Dr Samuel Nzekwe, a financial analyst, said increasing the Monetary Policy Rate (MPR) by the apex bank from 18.5 percent to 18.75 percent would make the cost of borrowing higher for the productive sector.
Browsing: interest rate
The Monetary Policy Committee of the Central Bank of Nigeria CBN has voted to increase the benchmark interest rate by 25 basis points to 18.75 per cent.
The Lagos Chamber of Commerce and Industry (LCCI) has recommended a pause in interest rate hikes to relieve the pressures on economic agents.
This was disclosed by the Governor of the CBN, Godwin Emefiele, after a meeting of the Monetary Policy Committee
The Central Bank of Nigeria says some firms in the country have identified insufficient power supply, high interest rates and unfavourable economic climate as major factors that constrained businesses in July.
Disclosing this to newsmen in Abuja on Wednesday was the acting Executive Secretary of NHIS, Dr. Abdulrahman Sambo, while receiving the report on Hospital Capital Improvement Project