• Analysts weigh options The Central Bank of Nigeria (CBN) begins its first meeting in 2021 today with the apex bank’s monetary policy decision-makers expected to consider its monetary tools and make crucial decisions on benchmark interest and other monetary rates. The Monetary Policy Committee (MPC) of the CBN is expected to decide on the...
Experts have said the Monetary Policy Committee of the Central Bank of Nigeria may consider cutting interest rates in the country due to economic indications. The CBN had notified that it would hold the next MPC meeting on Monday (today) and Tuesday in Abuja. A former President, Association of National Accountants of Nigeria, Dr Sam...
Kaspersky, a global cybersecurity company has predicted a growing economic turbulence, along with the impact of COVID-19, would contribute to an increase in cybercrime across South Africa, Kenya, Nigeria and other African countries in 2021. Kaspersky gave the prediction in its latest report released this week. Enterprise Cyber Security Advisor for Kaspersky in Africa, Lehan...
The Central Bank of Nigeria (CBN) has issued fresh guidelines aimed at strengthening the payment system and development of other disruptive technologies relating to financial services. The regulatory frameworks are contained in two separate documents issued by the apex banks. The documents are created to address challenges in regulatory sandbox and quick response (QR) code...
•Business loans increased in Q4, may go higher –CBN The Central Bank of Nigeria (CBN) has released the Framework for Regulatory Sandbox Operations, to ensure the safety and stability of the Nigerian Financial System, among other things. It is also to promote the use and adoption of electronic payments and foster innovation in the payments...
Nigeria’s benchmark Monetary Policy Rate (MPR) has been predicted to rise by 200 basis points to 13.5 per cent in 2021, up from the 11.5 per cent it is presently. Bloomberg Economics made the prediction in the media outfit’s quarterly guide titled: “Ultra-Low Interest Rates Are Here to Stay: 2021 Central Bank Guide,” obtained yesterday....
Nigerian stocks struggled for direction on Tuesday as investors adopted a guarded approach ahead of the Central Bank of Nigeria’s interest rate decision this week. After claiming the title as the world’s best-performing stock market in 2020, equity bulls in Nigeria seem to be missing with the NSE All-Share Index down only 0.36 per cent...
The Organised Private Sector (OPS) wants the government to fix the nation’s infrastructure, address the education segmant and reduce the electricity tariff regime to make Nigeria’s products competitive. The devastating impact of COVID-19 on the global economy, above everything else, has clearly demonstrated how a resolution of the pandemic will shape the direction of what...
SUPPLY of secured and unsecured credits to households will increase in first quarter of the year, the Central Bank of Nigeria’s (CBN’s) fourth quarter 2020 Credit Conditions Survey report has shown. The report indicates that the availability of secured and unsecured credits to households increased in fourth quarter of last year and is expected to...
Banks credits to the productive sectors rose by N3.97tn in 18 months after the commencement of the Loan to Deposit Ratio initiative of the Central Bank of Nigeria. This was disclosed in the personal statements of some of the members of the Monetary Policy Committee which was released by the CBN on Thursday. The CBN...