Tag: Central Bank of Nigeria

Banks’ Excess Profits Tax: Cause-Related Marketing to the Rescue?

Nigerian PanoramaLeave a Comment on Banks’ Excess Profits Tax: Cause-Related Marketing to the Rescue?

By Magnus Onyibe In response to the Central Bank of Nigeria’s (CBN) proposal for a 70% tax on the excessive profits banks made from the naira devaluation in 2023—profits which increased by at least 51% due to President Bola Tinubu’s economic reforms—there has been a noticeable rise in banks’ philanthropic activities. The proposed excess profits […]

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Central Bank of Nigeria

Kila and other Experts Fault CBN’s 14% Interest Rate Hike, Tightening Measure

EditorLeave a Comment on Kila and other Experts Fault CBN’s 14% Interest Rate Hike, Tightening Measure

Experts have said the 14 per cent interest rate by the Central Bank of Nigeria (CBN) will worsen the country’s economy rather than control inflation. CBN on Tuesday raised the Monetary Policy Rate (MPR), known as the interest rate, by 100 basis points to 14 per cent, thereby tightening its monetary policy measures. After its […]

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