The Central Bank of Nigeria (CBN) Announced an Increase in the Monetary Policy Rate (MPR) to 17.5%
On Tuesday, the Central Bank of Nigeria (CBN) announced an increase in the Monetary Policy Rate (MPR) from 16.5% to 17.5%. This decision was made during the Monetary Policy Committee (MPC) meeting held in Abuja. Additionally, the CBN Governor, Mr. Godwin Emefiele, stated that the January 31st, 2023 deadline for the return of old Naira […]Read More
The Senate Urges the Central Bank of Nigeria (CBN) to Extend the Deadline for Exchanging Old Naira Notes Until July 31st.
On Tuesday, the Senate made an appeal to the Central Bank of Nigeria (CBN) to extend the deadline for exchanging old Naira notes from the previously set date of January 31st to July 31st, 2023. This follows the CBN’s announcement in October 2020 that the old Naira notes would no longer be considered legal tender […]Read More