Cbn And Nirsal

BREAKING: CBN Cuts Interest Rate To 27%, Adjusts Banks’ Cash Reserve

The Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) has reduced the benchmark interest rate to 27 per cent, down from 27.5 per cent in July, in its latest effort to stabilise the economy. Naija News reports that the Committee also announced fresh adjustments to banks’ cash reserve obligations. Commercial banks will now operate

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MAN, importers, agents decry continuous collection of 4% FOB levy at port

The Manufacturers Association of Nigeria (MAN) and clearing agents operating at the nation’s ports have raised the alarm that despite the Federal Ministry of Finance’s directive that the Nigeria Customs Service (NCS) should suspend the 4 percent Free-on-Board (FOB) levy on imported goods, the Service has failed to implement the directive as the levy still

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