CBN increases rate to 18%

13 mins ago

The United States Consulate in Nigeria has said it will place visa restrictions on Nigerians responsible for election violence that undermined the democratic process during Saturday’s gubernatorial and state assembly elections. The Consulate disclosed this in a statement on Tuesday, stating that it is deeply troubled by the disturbing acts of violence, voter intimidation, and…

21 mins ago

Gov. Ademola Adeleke of Osun on Tuesday said that the state will soon enact disability law to cater for the needs of people living with disabilities. Adeleke said this during the distribution of support materials to people with disabilities in Osogbo. The governor said his administration would review the legal framework as it affects the…

24 mins ago

Constitution amendment bills on power to summon presidents and governors suffered another major setback as President Muhammadu Buhari has withheld his assent. Buhari’s withholding of presidential assent to the Constitution alteration bill and 18 others became a source of concern to the President of the Senate, Ahmad Lawan on the floor of the Senate, Tuesday.…

42 mins ago

Central Bank of Nigeria (CBN) has voted to increase the benchmark interest rate by 50 basis points to 18. percent. CBN Governor Godwin Emefiele said this while reading the communiqué of the second Monetary Policy Committee (MPC) meeting on Tuesday. He said the committee also pegged the liquidity ratio at thirty percent. Emefiele said the…

1 hour ago

A 19-year-old girl, Adetutu Okinbaloye, has been abducted by gunmen suspected of being kidnappers in Ondo State. Adetutu was kidnapped from her residence in the Imoru community, Ose Local Council of the state. It was gathered that the abductors, seven in number, had stormed the residence of the victim, where she lives with her aunt,…