• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Friday, August 8, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

After two years Nigeria raises interest to 13%

Interest

The Matters Press by The Matters Press
May 24, 2022
Reading Time: 2 mins read
0
Nigeria’s food monthly imports dip

CBN governor Emefiele

For the first time in over two years, the Central Bank of Nigeria (CBN) has increased the Monetary Policy Rate (MPR) to 13 per cent from 11.5 percent.

RELATED POSTS

‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎

National Single Window initiative, a major step for efficient cross-border trade – TMSG

‎Group celebrates 45% increase in federal revenue in just one month

Mr Godwin Emefiele, Governor of the CBN, disclosed this while reading 285th communique from the apex bank’s Monetary Policy Committee (MPC) meeting on Tuesday.

Emefiele that the committee also decided to retain all other parameters.
Thus, the asymmetric corridor was retained at +100/-700 Basic Points around the MPR, the Cash Reserve Ratio (CRR) retained at 27.50 per cent and the Liquidity Ratio retained at 30.00 per cent.

The MPC had retained the former MPR of 11.5 per cent for over two years.
Emefiele said the committee was faced with various options, but guided by the need to slow down inflationary pressure while engendering economic growth.

He said that, though the 11 MPC members unanimously voted to raise the MPR , they provided divergent opinions on the level of increase.

“Six members voted to raise the MPR by 150 basis points, four members, by 100 basis points and one member, by 50 basis points.

“Members expressed deep concern about the continued uptrend of inflationary pressure despite the gradual improvement in output growth.

“Committee notes that the current rise in inflation is inimical to growth and the full recovery of the Nigerian economy, ” he said.

He said that several options were considered before the decision to increase the MPR.

“After carefully reviewing developments in the two months, and outlook of growth in the domestic and global economy as well as downsides of each policy.

“It is clear and compelling that tackling inflation is more urgent in sequence of policy objectives.

“MPC urged the CBN to double its effort at supporting the priority growth-enhancing sectors of the economy.

“It urged the Federal Government to do more to provide a safe and secure environment for economic activities to stimulate growth, ” he said.

Tags: Interest
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Obi, PDP candidate advises Buhari to increase tempo
Economy/Technology

‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎

August 7, 2025
Importers face delays, higher costs on Red Sea woes
Economy/Technology

National Single Window initiative, a major step for efficient cross-border trade – TMSG

August 4, 2025
Chatham House stance on Nigeria’s economy, a non-biased assessment of  reforms
Economy/Technology

‎Group celebrates 45% increase in federal revenue in just one month

July 28, 2025
POLICY STATEMENT 027 BY THE INDEPENDENT MEDIA AND POLICY INITIATIVE (IMPI)
Economy/Technology

Alleged Wasteful Turn Around Maintenance (TAM) of Refineries: Setting the records straight

July 25, 2025
Dangote Fertilizer in gas supply deal
Economy/Technology

IMPI seeks forensic audit of refineries from 2000 to 2023 ‎ ‎

July 25, 2025
Nigeria’s Dangote refinery will cut Africa’s petrol import by 36%
Economy/Technology

‎ADC erred, APC administrations never spent $18bn on refineries-IMPI ‎

July 25, 2025
Next Post
Nigeria suspends mining in Zamfara

Minister urges for a boost in mining sector

Egypt’s economic strides excite AfDB

AfDB helps Nigeria return to electronic wallet system in agric

Recommended Stories

What Adesina told Saka Momodu

Averting the Road to Venezuela

May 8, 2020
Make cash accessible, remove obstacles —stakeholders plead

Expert calls for sanction to vendors rejecting old naira notes

March 18, 2023
Consumer commission, CBN, EFCC investigate violations in money lending

CBN bans use of Forex as collateral for Naira loan

April 8, 2024

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • ‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎
  • National Single Window initiative, a major step for efficient cross-border trade – TMSG
  • ‎Group celebrates 45% increase in federal revenue in just one month

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us