By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)- The Central Bank of Nigeria (CBN) on tuesday at the end of its monetary policy committee (MPC) meeting increased benchmark interest rate to 13 percent from 12 percent; increasing it to 100 basis points. This is coming on the heels of the CBN seeking […]
World News
Without subsidy petrol will cost N109 only
At the current $78 average world market price for crude Nigerians will have to pay only N109.43k per litre were the highly abused subsidy on petroleum product to be removed immediately today. This price, analysts say, completely debunks the fear widely expressed that the removal of the subsidy will result […]
External reserves fall to $37.1bn
The nation’s external reserves have fallen to $37.1bn, a new report from the Central Bank of Nigeria has shown. The report, posted on the central bank’s website, showed that the reserves depleted by $2bn within one month. Specifically, the foreign reserves depleted from $39.1bn as of October 21 to $37.1bn […]
