BREAKING: CBN retains 27.50% interest rate again

Published

1 year ago

May 20, 2025

531 Views

The Monetary Policy Committee of the Central Bank of Nigeria has retained the country’s interest rate at 27.50 per cent for the second time in 2025.

The Governor of CBN, Olayemi Cardoso, disclosed this during a press briefing on Tuesday after the 300th MPC meeting in Abuja.

“The Committee was unanimous in its agreement to hold all parameters,” he said.

This second pause in rates comes after six consecutive hikes recorded in 2024.

More details shortly…

Related Topics:CBN Featured Interest Rates

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NPA initiate trucks movement code to ease traffic at Lagos ports

The initiative is designed to ensure that each truck is matched exclusively to its designated empty container, eliminate multiple allocations, improve traffic management and enhance operational efficiency within the port corridor.

Published

16 hours ago

July 30, 2026

OCHEFA

23 Views

The Nigerian Ports Authority (NPA) has introduced a movement code to streamline the movement of empty containers into seaport terminals and reduce traffic congestion caused by container trucks along the Apapa and Tin Can Island port corridors.

The Guardian reported that under the new policy, the movement code will serve as a unique identifier generated by a holding bay for every empty container uploaded to the Electronic Call-Up (ETO) platform.

The code must correspond with the details captured on the ETO system before trucks are granted access to port terminals.

In a notice issued to stakeholders, the NPA said the movement code has become a mandatory requirement for completing the truck-container matching process.

Truck drivers are required to obtain the code from designated holding bays before proceeding to the ports.

According to the authority, the initiative is designed to ensure that each truck is matched exclusively to its designated empty container, eliminate multiple allocations, improve traffic management and enhance operational efficiency within the port corridor.

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Okonjo-Iweala lauds Cardoso for stabilising Nigeria’s monetary environment

Okonjo-Iweala, gave the commendation on Thursday at the 7th Africa Emerging Markets Forum held in Abuja, with the theme: “Building Resilience Amidst Geo-economic Uncertainties.”

Published

17 hours ago

July 30, 2026

OCHEFA

21 Views

The Director-General of the World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala, has commended the Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, for stabilising Nigeria’s monetary environment.

Okonjo-Iweala, gave the commendation on Thursday at the 7th Africa Emerging Markets Forum held in Abuja, with the theme: “Building Resilience Amidst Geo-economic Uncertainties.”

Speaking at the forum, Okonjo-Iweala commended Cardoso on the work that he and his team have done on currency and monetary policy stabilisation.

However, she emphasised that Nigeria must sustain broader macroeconomic reforms.

“Nigerians have to feel the dividends of reform in the real economy,” she added.

The forum brought together policymakers, business leaders and development partners to discuss strategies for strengthening Africa’s resilience amid growing global economic uncertainty.

Business

Naira Exchange Rates Thursday, July 30 : Black Market, CBN, Commercial Bank

Sterling Bank publishes both a buy rate and a sell rate for USD, GBP, EUR, and ZAR. The buy rate is what Sterling Bank will pay you when you exchange foreign currency for Naira. The sell rate is what you will pay when buying foreign currency from Sterling Bank at its branches.