Business

CBN retains interest rate at 27.5%

Vincent Afolabi 22 July 2025 0

The Central Bank of Nigeria (CBN) has left the benchmark interest rate unchanged at 27.5 percent — the third consecutive hold since March 2025. Olayemi Cardoso, governor of the apex bank, announced the decision on Tuesday during a press briefing at the end of the 301st meeting of the monetary

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COVID-19: CBN slashes interest rate on N3trn intervention fund to 5%

Ihesiulo Grace 17 March 2020 0

…directs banks to review loan terms Following the widespread of Coronavirus and its implication on the nation’s economy, the Central Bank of Nigeria (CBN) on Monday reduced interest rate on N3 trillion intervention fund to a single digit. The CBN Governor, Mr. Godwin Emefiele, announced the measures during a media briefing at the apex bank […]

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N220bn MSMED fund: Ambode urges CBN to cut interest rate, boost finance

Ihesiulo Grace 11 December 2017 0

In order to change lack of access to credit by Nigeria’s small business owners, Governor of Lagos state, Akinwunmi Ambode, has called on the Central Bank of Nigeria (CBN) to release N220 billion Micro, Small and Medium Enterprises Development (MSMED) fund to states at five per cent, saying, government policies are stifling growth of the […]

Business

High Interest Rate stifling Economic Growth, Ease of doing business- NECA

Ihesiulo Grace 15 June 2017 0

The Nigerian Employers Consultative Association (NECA) have implored monetary authorities to take acceptable measures in re-inflating the economy through monetary easing and reduction of the high-interest rate which they said are currently stifling Economic growth. Speaking on Behalf of the Association following a quarterly meeting of its Governing Council held in Lagos on

Business

MAN wants 5% interest rate for manufacturers

Ihesiulo Grace 31 January 2017 0

The Manufacturers Association of Nigeria (MAN) is concerned about the interest rate in Nigeria. The president of the association, Dr Frank Jacobs Udemba, who disclosed this at the MAN annual media luncheon in Lagos, noted that one of its major focus for the year 2017 is advocacy for a concessionary interest rate of five percent […]