Why CBN slashed monetary policy rate – Official

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has explained why it slashed the monetary policy rate, popularly called lending rate, from 13.5 per cent to 12.5 per cent. The CBN governor, Godwin Emefiele, said the committee believed lowering the monetary policy rate would stimulate credit expansion to critically sectors of the economy, […]

Federal Executive Council approves N623m for computers, printers for Nigeria Customs

The Federal Executive Council has approved a N623.7 million contract for the procurement of computers and printers for zonal and area commands of the Nigeria Customs Service. Minister of Information and Culture, Lai Mohammed revealed this on Wednesday while briefing State House Correspondents on the outcome of this week’s virtual meeting of the Council, presided over […]

Nigeria: Borrowing – W/Bank, AfDB to Approve Nigeria’s Request By June – DMO

The Federal Government has disclosed that the $1.5billion loan request from the World Bank and the additional $500 million loan request from the African Development Bank (AfDB) will be approved by the banks’ boards sometime in June or July this year. The Director – General of the Debt Management Office, Patience Oniha disclosed this during […]