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The Central Bank of Nigeria has raised its benchmark lending rate to 16.5 per cent in a sustained push to control inflation and ease pressure on the naira.
Governor of the Central Bank of Nigeria Godwin Emefiele, made this known at the end of the Monetary Policy Committee meeting in Abuja on Tuesday.
Emefiele announced that the committee also retained the Cash Reserve Ratio at 32.5 percent, and the liquidity ratio at 30 per cent.
Many of those killed and injured in a major earthquake on the Indonesian island of Java were children, as the death toll soars to 268. According to the National Disaster Mitigation Agency on Tuesday, more than 1,000 people were wounded, adding that 151 people were still missing. It also said that 22,000 houses had been damaged, and that more than 58,000 people had taken shelter in several locations in the […]
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