CBN Approves Merger Of Unity, Providus Banks
The Central Bank of Nigeria (CBN) on Tuesday announced the approval for a pivotal financial accommodation to support the proposed merger between Unity Bank Plc and the Providus Bank Limited. The apex bank, in a statement by its acting Director of Corporate Communications, Hakama Sidi-Ali, said the move is designed to bolster the stability of […]
CBN Raises Monetary Policy Rate From 26.25% To 26.75%
The Central Bank of Nigeria (CBN) has again raised the Monetary Policy Rate by 50 basis points, from 26.25% to 26.75%. Announcing this after the apex bank’s 296th Monetary Policy Committee meeting in Abuja, CBN Governor, Olayemi Cardoso, said the committee also pegged the Cash Reserve Ratio for Deposit Money Banks at 45% while that […]
CBN raises Interest Rate from 24.75% to 26.25%
The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate for the third straight time by 150 basis points from 24.75 per cent to 26. 25 per cent. The CBN Governor Yemi Cardoso who is also the Monetary Policy Committee (MPC) chairman said the committee at its 295th meeting retained the Cash Reserve […]
