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At the end of its 295th meeting on Tuesday, the Governor of the Central Bank of Nigeria, Olayemi Cardoso, who also doubles as the chairman of the MPC, announced the decision of the committee.
Analysts have projected that the Monetary Policy Committee of the Central Bank of Nigeria, which commenced its third meeting of the year on Monday, is likely to increase the benchmark rate.
Nigerians on Monday rejected the Nigerian Electricity Regulatory Commission’s reduction of the tariff payable by Band A customers from N225/kWh to N206.8/kWh.
The Nigeria Customs Service (NCS) says the prevailing exchange rate set by the Central Bank of Nigeria (CBN) determines its rates of import duty collection and not market forces. The Spokesperson of NCS, Abdullahi Maiwada, said this in an interview with the News Agency of Nigeria (NAN) on Wednesday in Abuja. Maiwada said that importers
A sudden hike in electricity rates in Africa's most populous country, Nigeria, has sparked a backlash. Until now, Jude Okafor has spent an average $25 on electricity to run a frozen fish and meat business that he started in 2021. But since last week, when the government announced a rate hike of nearly 300 percent…