November 9, 2023/CSL Research In response to the nation’s rising inflation, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR) by a cumulative 225bps in 2023. The MPR has been raised from 16.5% in January 2023 to 18.75% in July […]

November 9, 2023/FBNQuest Research Our chart below, taken from CBN data, shows that Nigeria’s gross official reserves increased by USD159m in Oct ’23 to USD33.4bn. The m/m accretion to the external reserves is the most significant since Jun ’22 when the external reserves increased by USD672m. Identifying the primary source […]

November 8, 2023/CBN Our attention has again been drawn to reports of a scarcity of cash across some major cities in the country despite assurances of sufficient cash stocks in all locations across the country. There have also been reports of anxiety among some members of the public over the […]