Glamtush
No Result
View All Result
  • Home
  • News
    • Education
    • Health
    • Metro/Crime
    • Nigeria News
    • Photo News
    • World News
  • Politics
  • Business & Brands
  • Entertainment
    • Celebrities
    • Movies
    • Music
    • Telemundo
    • Telenovelas
  • Sports
  • Fashion
    • Accessories
    • Celeb Style
    • Designers
    • Lookbook
    • Style Crush
    • Trends
    • Who Wore It Better
  • Features
    • Dear Angie
    • Interviews
    • Opinions
  • Beauty
    • Hair
    • Skin
    • Nails
  • Lifestyle
    • Career
    • Food & Drinks
    • Fitness
    • Travels
    • Weddings
  • Events
  • Relationship
  • Home
  • News
    • Education
    • Health
    • Metro/Crime
    • Nigeria News
    • Photo News
    • World News
  • Politics
  • Business & Brands
  • Entertainment
    • Celebrities
    • Movies
    • Music
    • Telemundo
    • Telenovelas
  • Sports
  • Fashion
    • Accessories
    • Celeb Style
    • Designers
    • Lookbook
    • Style Crush
    • Trends
    • Who Wore It Better
  • Features
    • Dear Angie
    • Interviews
    • Opinions
  • Beauty
    • Hair
    • Skin
    • Nails
  • Lifestyle
    • Career
    • Food & Drinks
    • Fitness
    • Travels
    • Weddings
  • Events
  • Relationship
No Result
View All Result
Glamtush
No Result
View All Result
Home News

BREAKING: CBN Raises Interest Rate To 17.5%

The CBN also said its January 31, 2023 deadline for the validity of the old N200, N500 and N1,000 notes remains.

byGLAMTUSH
January 24, 2023
in News, Nigeria News
CBN
Share on FacebookShare on TwitterShare on PinterestShare on WhatsappShare on LinkedinShare on Telegram

CBN has raised interest rate to 17.5%.

 

Glamtush reports that the Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR), which measures interest rate from 16.5% to 17.5 percent to tame inflation.

READ ALSO

“Our Client Wanted To Say Pupsy” – Imo Poly Graduating Student’s Lawyer Pleads Case With School Mgt

Nnamdi Kanu’s Deteriorating Health True – IPOB Fires Back At DSS

This online platform understands that the CBN Governor, Godwin Emefiele announced this after the apex bank’s Monetary Policy Committee (MPC) meeting in Abuja on Tuesday.

The MPC raised the monetary policy rate by 100 basis point to 17.5% and kept the asymmetric corridor at +100/-700 basis points around the MPR.

The MPC retained Cash Reserve Ratio (CRR) by 32.5% while liquidity ratio is kept at 30%.

The CBN also said its January 31, 2023 deadline for the validity of the old N200, N500 and N1,000 notes remains.

The CBN on October 26, 2022 had announced its plan to redesign the three banknotes. President Muhammadu Buhari subsequently unveiled the redesigned N200, N500 and N1,000 notes on November 23, 2022, while the apex bank fixed January 31 deadline for the validity of the old notes.

There have been concerns from many Nigerians over the slow spread of the three new naira notes as the January 31 2023 deadline approaches but the apex bank has insisted that the date stands.

The CBN also recently directed commercial banks to halt over-the-counter payment of the new notes and load their Automated Teller Machines (ATMs) with the redesigned naira notes to boost circulation.

READ ALSO  How To Apply For CBN AGSMEIS Loans With No Collateral

The apex bank also launched a cash swap programme nationwide to enable those in the unbanked areas to exchange their old notes for new notes before the deadline.

However, the House of Representatives, the Senate and the Nigeria Governors’ Forum have asked the CBN to extend the date to enable more Nigerians get the new notes.

 

 

 

Related

Related Posts

Graduating Student
Education

“Our Client Wanted To Say Pupsy” – Imo Poly Graduating Student’s Lawyer Pleads Case With School Mgt

January 31, 2023
Nnamdi Kanu’s Deteriorating Health
News

Nnamdi Kanu’s Deteriorating Health True – IPOB Fires Back At DSS

January 31, 2023
Nuhu Sanusi Is Dead
News

BREAKING: Emir Of Dutse Nuhu Sanusi Is Dead

January 31, 2023
Tinubu
News

Emilokan Has Spiritual Meaning, Don’t Take Tinubu For A Joke – Primate Ayodele

January 31, 2023
Naira Swap
Metro/Crime

Gunmen Rob, Shoot PoS Operator, Three Others Over Naira Swap In Bauchi

January 31, 2023
Naira Redesign
News

Naira Redesign: Lagos Assembly Commends NASS

January 31, 2023
Next Post
CBN

January 31 Deadline For Old Naira Notes Remains, CBN Insists

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

E-Magazine Covers

GTCO Fashion Weekend
Lace Styles
Dollar To Naira Exchange Rate

Black Market Dollar To Naira Exchange Rate Today 1st February 2023

February 1, 2023
Happy New Month Prayers

250+ Powerful Happy New Month Prayers For February 2023

February 1, 2023
Happy New Month

200 Happy New Month Wishes, Messages, Prayers And Images For February 2023

February 1, 2023
Graduating Student

“Our Client Wanted To Say Pupsy” – Imo Poly Graduating Student’s Lawyer Pleads Case With School Mgt

January 31, 2023
Nnamdi Kanu’s Deteriorating Health

Nnamdi Kanu’s Deteriorating Health True – IPOB Fires Back At DSS

January 31, 2023
Nuhu Sanusi Is Dead

BREAKING: Emir Of Dutse Nuhu Sanusi Is Dead

January 31, 2023
Tinubu

Emilokan Has Spiritual Meaning, Don’t Take Tinubu For A Joke – Primate Ayodele

January 31, 2023
Naira Swap

Gunmen Rob, Shoot PoS Operator, Three Others Over Naira Swap In Bauchi

January 31, 2023
Naira Redesign

Naira Redesign: Lagos Assembly Commends NASS

January 31, 2023
Startups Accelerator For Women Founders In Africa

Google Launches First Dedicated Startups Accelerator For Women Founders In Africa

January 31, 2023

Glamtush is a fashion, beauty and lifestyle online magazine. We bring to you latest trends in fashion, beauty and lifestyle as well as those making the fashion world interesting and adorable.

  • About Us
  • Advertise
  • Terms And Conditions
  • Write for Us

© 2022 Glamtush

No Result
View All Result
  • Home
  • News
    • Education
    • Health
    • Metro/Crime
    • Nigeria News
    • Photo News
    • World News
  • Politics
  • Business & Brands
  • Entertainment
    • Celebrities
    • Movies
    • Music
    • Telemundo
    • Telenovelas
  • Sports
  • Fashion
    • Accessories
    • Celeb Style
    • Designers
    • Lookbook
    • Style Crush
    • Trends
    • Who Wore It Better
  • Features
    • Dear Angie
    • Interviews
    • Opinions
  • Beauty
    • Hair
    • Skin
    • Nails
  • Lifestyle
    • Career
    • Food & Drinks
    • Fitness
    • Travels
    • Weddings
  • Events
  • Relationship

© 2022 Glamtush