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CBN Announces Increase in ACGSF Share Capital to N50b

CBN Announces Increase in ACGSF Share Capital to N50b

The Central Bank of Nigeria (CBN), has just announced that the Agricultural Credit Guarantee Scheme Fund (ACGSF) Amendment Act approved by President Muhammadu Buhari on June 24, 2019, has increased the share capital of the fund to N50 billion from N3 billion. In a document…
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CBN Reviews Minimum Interest Rates on Savings Deposit to 1.25%

CBN Reviews Minimum Interest Rates on Savings Deposit to 1.25%

Monetary Policy Rate Reduction With inflation rate at 12.8%, it is almost like saying banks are being paid to keep customers money. The Central Bank of Nigeria (CBN) has instructed commercial banks in Nigeria not to pay less than 1.25% in interest on savings deposit…
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