Business & Strategy

On February 27, 2024, Nigeria’s Monetary Policy Committee (MPC) made a bold move, increasing the monetary policy rate by a substantial 400 basis points to 22.75%. This decision, which aims to tackle inflation that reached a 28-year high of 29.9%, was coupled with an increase in the cash reserve ratio to 45%. These measures signal a firm commitment to tightening monetary policy and stabilizing the economy, aligning Nigeria more closely with global economic trends and seeking to restore confidence in its financial markets. So today I will be explaining what MPR rate means and its impact on the economy and as a bonus I will be throwing in cash reserve ratio, liquidity ratio, and assymetric corridor.

11 Mar 24

CBNMPC Raises MPR by 400bps to 22.75%: The Breakdown

On February 27, 2024, Nigeria’s Monetary Policy Committee (MPC) made a bold move, increasing the monetary policy rate by a substantial 400 basis points to 22.75%. This decision, which aims to tackle inflation that reached a 28-year high of 29.9%, was coupled with an increase in the cash reserve ratio…

Inflation is a gradual rising in the overall cost of commodities and services. Certain goods may noticeably go up in price, while others may become cheaper, as well as some goods may not change in price at all. Inflation is assessed by the set of products, goods, and services that the average person or family regularly buys.

26 Sep 23

Inflation in Different Countries of The World and its Effect on Forex

Inflation is a gradual rising in the overall cost of commodities and services. Certain goods may noticeably go up in price, while others may become cheaper, as well as some goods may not change in price at all. Inflation is assessed by the set of products, goods, and services that…

Nigerian businesses from manufacturers to importers, who have been on a long queue for dollars may have cause to heave a sigh of relief as the Central Bank of Nigeria (CBN) has announced plans to clear foreign exchange (Forex) backlog obligations in the next two weeks.

25 Sep 23

CBN to Clear Forex Obligation Backlog in Two Weeks, Plans Clampdown on Illegal operators

Nigerian businesses from manufacturers to importers, who have been on a long queue for dollars may have cause to heave a sigh of relief as the Central Bank of Nigeria (CBN) has announced plans to clear foreign exchange (Forex) backlog obligations in the next two weeks. Acting Governor of the…