• About
  • Advertise
  • Careers
  • Contact Us
Wednesday, June 25, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Home Economy Finance

CBN Hikes Interest Rate by 150 basis Points to 26.25%

by Adetunji Tobi
May 21, 2024
in Finance
1
Bank Customers' Complaint, Yemi Cardoso, CBN Governor, BDCs, dollar-denominated collateral, Cybersecurity Levy, Interest Rate
Yemi Cardoso, CBN Governor

Yemi Cardoso, CBN Governor

UBA
Advertisements

In a persistent war against rising inflation, the Central Bank of Nigeria on Tuesday raised its benchmark interest rate by 150 basis points to 26.25 percent, the third straight hike this year, to control the rising prices of goods and services and to ensure stability of the naira.

From Okada Rider to Business Owner: How Interest Rates Affect Your Hustle

After the two-day Monetary Policy Committee (MPC) meeting in Abuja, the members agreed to hold other parameters unchanged.

Consequently, the CBN retained the asymmetric corridor around the MPR at +100/-300 basis points, cash reserve ratio (CRR) at 35 percent, and retained the liquidity ratio (LR) at 30 percent.

Olayemi Cardoso, the governor of the CBN, announced this in Abuja after the meeting. Most analysts have anticipated a 100 basis point increase in the Monetary Policy Rate (MPR) to rein in inflationary pressure.

The CBN’s move has satisfied the taste of investors for attractive yield but put borrowing costs high for the real sector and the small and medium enterprises (SMEs).

Loading

Advertisements
MTN ADS

Author

  • Adetunji Tobi
    Adetunji Tobi

    Tobi Adetunji is a Business Reporter with Techeconomy. Contact: adetunji.tobi@techeconomy.ng

    View all posts
0Shares
Tags: CBNInterest Rates
Adetunji Tobi

Adetunji Tobi

Tobi Adetunji is a Business Reporter with Techeconomy. Contact: adetunji.tobi@techeconomy.ng

Next Post
Co-location Connectivity Divide in Africa, Data centre

FG to Launch New Data Centre to Warehouse NIMC Database, Others

Comments 1

  1. Pingback: CBN’s New Interest Rate Will Discourage Real Sector Growth - Aremu - Tech | Business | Economy

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

InsurEase App by Transparency Scape Insurance Brokers

Transparency Scape Officially Introduces Brokerage Firm, Unveils Innovative InsurTech in Nigeria

8 months ago
NELFUND and Student Loan

6000 Apply for Student Loan in 7 Days – NELFUND

1 year ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    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
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.