• Latest
  • Trending
  • All
  • Politics
  • Economy
  • Security
  • Education
  • Sports
  • Health
  • Entertainment
  • Legal
  • Technology and Science
  • Opinion
  • Columns
  • Exposé
  • World
  • Lifestyle
Why Nigeria's Central Bank Raised Interest Rate To 15.5%

Why Nigeria’s Central Bank Raised Interest Rate To 15.5%

3 years ago
South Africa Urges Transparency In Global Credit Ratings At G20 Talks

South Africa Urges Transparency In Global Credit Ratings At G20 Talks

7 hours ago
Ivory Coast To Supply Guinea With 50 Million Litres Of Fuel After Depot Fire

Egypt Raises Fuel Prices Again, Freezes New Rates For One Year

7 hours ago
Russia Jails 15 Ukrainian Soldiers Over Terrorism

Russia Jails 15 Ukrainian Soldiers Over Terrorism

8 hours ago
MWC Kigali
Egypt Set To Finalise New Debt Swap With Europe Before Year-End – Minister

Egypt Set To Finalise New Debt Swap With Europe Before Year-End – Minister

8 hours ago
Ghana Signs Landmark Agreement To Export Nurses To Grenada

Ghana Signs Landmark Agreement To Export Nurses To Grenada

9 hours ago
Saturday, October 18, 2025
  • About
  • HT Management
  • Privacy Policy
Heritage Times
No Result
View All Result
Translate |
  • Login
  • Politics
    Madagascar: Coup Leader Vows To Strengthen National Unity At Swearing-In

    Madagascar: Coup Leader Vows To Strengthen National Unity At Swearing-In

    Nigeria: Senate Confirms Professor Of Law As Electoral Commission Chairman

    Nigeria: Senate Confirms Professor Of Law As Electoral Commission Chairman

    Madagascar: My Swearing-In Happening Soon — Coup Leader

    Madagascar: My Swearing-In Happening Soon — Coup Leader

    Madagascar: Lawmakers Impeach Fleeing President As Military Takes Power

    Madagascar: Lawmakers Impeach Fleeing President As Military Takes Power

    Cameroon: Opposition Candidate, Bakary Urges Biya To Concede Defeat

    Cameroon: Opposition Candidate, Bakary Urges Biya To Concede Defeat

    Madagascar: Presidency Raises Alarm Over Possible Coup As More Soldiers Back Protests

    Madagascar: President Rajoelina Flees After Losing Army’s Support

    Cameroon: Influential Minister Resigns, To Challenge President Biya At Polls

    Cameroon: Opposition Candidate, Bakary Takes Early Lead In Paul Biya’s Stronghold

    Madagascar: Presidency Raises Alarm Over Possible Coup As More Soldiers Back Protests

    Madagascar: Presidency Raises Alarm Over Possible Coup As More Soldiers Back Protests

    Cameroon Votes In Presidential Election Sunday As 92-Year-Old Biya Seeks 8th Term

    Cameroon Votes In Presidential Election Sunday As 92-Year-Old Biya Seeks 8th Term

  • Economy
    Ghana Signs Landmark Agreement To Export Nurses To Grenada

    Ghana Signs Landmark Agreement To Export Nurses To Grenada

    Zimbabwe: Zanu-PF Plans Mnangagwa’s Tenure Extension

    Zimbabwe: IMF Commends Economic Progress, But Rules Out Fresh Borrowing

    Nigeria Emerges G-24 Chair, Assures Global Economic Equity, Stability

    Nigeria Emerges G-24 Chair, Assures Global Economic Equity, Stability

    World Bank, AfDB, Partners Launch Global ‘AgriConnect’ Initiative To Transform Smallholder Farming, Create Millions Of Jobs

    World Bank, AfDB, Partners Launch Global ‘AgriConnect’ Initiative To Transform Smallholder Farming, Create Millions Of Jobs

    UK Launches Trade Reforms Aimed At Boosting Exports And Jobs In Africa

    US, China Trade New Port Fees In Escalating Maritime Showdown

    Kenya: Parliament Enacts Law To Regulate Cryptocurrencies

    Kenya: Parliament Enacts Law To Regulate Cryptocurrencies

    AfDB President Calls For Renewed Global Support Ahead Of ADF-17 Pledging Session

    AfDB President Calls For Renewed Global Support Ahead Of ADF-17 Pledging Session

    In Response To Youth-Led Protests, King Of Morocco Urges Reforms To Create Jobs

    World Bank Urges Ethiopia To Fast-Track Telecom Reforms To Bridge Digital Divide

    World Bank Urges Ethiopia To Fast-Track Telecom Reforms To Bridge Digital Divide

  • Security
  • Education
  • Sports
  • Health
  • Metro
  • Entertainment
  • Lifestyle
  • Legal
  • Tech & Science
  • Opinion
  • Exposé
  • Exclusive Videos
  • Niger Delta
  • World
  • Politics
    Madagascar: Coup Leader Vows To Strengthen National Unity At Swearing-In

    Madagascar: Coup Leader Vows To Strengthen National Unity At Swearing-In

    Nigeria: Senate Confirms Professor Of Law As Electoral Commission Chairman

    Nigeria: Senate Confirms Professor Of Law As Electoral Commission Chairman

    Madagascar: My Swearing-In Happening Soon — Coup Leader

    Madagascar: My Swearing-In Happening Soon — Coup Leader

    Madagascar: Lawmakers Impeach Fleeing President As Military Takes Power

    Madagascar: Lawmakers Impeach Fleeing President As Military Takes Power

    Cameroon: Opposition Candidate, Bakary Urges Biya To Concede Defeat

    Cameroon: Opposition Candidate, Bakary Urges Biya To Concede Defeat

    Madagascar: Presidency Raises Alarm Over Possible Coup As More Soldiers Back Protests

    Madagascar: President Rajoelina Flees After Losing Army’s Support

    Cameroon: Influential Minister Resigns, To Challenge President Biya At Polls

    Cameroon: Opposition Candidate, Bakary Takes Early Lead In Paul Biya’s Stronghold

    Madagascar: Presidency Raises Alarm Over Possible Coup As More Soldiers Back Protests

    Madagascar: Presidency Raises Alarm Over Possible Coup As More Soldiers Back Protests

    Cameroon Votes In Presidential Election Sunday As 92-Year-Old Biya Seeks 8th Term

    Cameroon Votes In Presidential Election Sunday As 92-Year-Old Biya Seeks 8th Term

  • Economy
    Ghana Signs Landmark Agreement To Export Nurses To Grenada

    Ghana Signs Landmark Agreement To Export Nurses To Grenada

    Zimbabwe: Zanu-PF Plans Mnangagwa’s Tenure Extension

    Zimbabwe: IMF Commends Economic Progress, But Rules Out Fresh Borrowing

    Nigeria Emerges G-24 Chair, Assures Global Economic Equity, Stability

    Nigeria Emerges G-24 Chair, Assures Global Economic Equity, Stability

    World Bank, AfDB, Partners Launch Global ‘AgriConnect’ Initiative To Transform Smallholder Farming, Create Millions Of Jobs

    World Bank, AfDB, Partners Launch Global ‘AgriConnect’ Initiative To Transform Smallholder Farming, Create Millions Of Jobs

    UK Launches Trade Reforms Aimed At Boosting Exports And Jobs In Africa

    US, China Trade New Port Fees In Escalating Maritime Showdown

    Kenya: Parliament Enacts Law To Regulate Cryptocurrencies

    Kenya: Parliament Enacts Law To Regulate Cryptocurrencies

    AfDB President Calls For Renewed Global Support Ahead Of ADF-17 Pledging Session

    AfDB President Calls For Renewed Global Support Ahead Of ADF-17 Pledging Session

    In Response To Youth-Led Protests, King Of Morocco Urges Reforms To Create Jobs

    World Bank Urges Ethiopia To Fast-Track Telecom Reforms To Bridge Digital Divide

    World Bank Urges Ethiopia To Fast-Track Telecom Reforms To Bridge Digital Divide

  • Security
  • Education
  • Sports
  • Health
  • Metro
  • Entertainment
  • Lifestyle
  • Legal
  • Tech & Science
  • Opinion
  • Exposé
  • Exclusive Videos
  • Niger Delta
  • World
No Result
View All Result
First with the News

Why Nigeria’s Central Bank Raised Interest Rate To 15.5%

September 28, 2022
in Economy, Top Stories
0
Why Nigeria's Central Bank Raised Interest Rate To 15.5%

CBN Governor, Godwin Emefiele.

0
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

By John Ikani 

The Central Bank of Nigeria (CBN) on Tuesday raised interest rates for local bank lending to 15.5%, its highest level yet, just two months after it was pegged at 14%.

Relatedreading

South Africa Urges Transparency In Global Credit Ratings At G20 Talks

Egypt Raises Fuel Prices Again, Freezes New Rates For One Year

This was in consideration of the persistent rise in inflation rate and fragile growth. Nigeria’s headline inflation accelerated to the highest level in 17 years at 20.52 percent in August 2022, from 19.64 percent in the previous month.

MWC Kigali MWC Kigali MWC Kigali
ADVERTISEMENT

The hike is the highest rate in the last 20 years, an indication of the aggressive move by the CBN to rein in Inflation as the money supply in the country rose to its highest ever level of record.

The CBN Governor Godwin Emefiele said as inflation continues to reign upward, the bank’s Monetary Policy Committee (MPC) will always hike rates to tame the pressure on citizens.

“The tested monetary policy theory is that the easiest way to tame inflationary pressure is to raise rates,” he said.

“CBN research study has shown that once inflation trends above 12.5 or 13 percent, it will retard growth. So it is difficult for us, with all data available, not to go in a very aggressive way. To some, not expected because it increases the cost of borrowing, but this is the best we can.”

It is worthwhile to note that other central banks in most world economies have also raised interest rates to tame the rising rate of inflation.

The US Federal Reserve made history last week by approving a third consecutive 75-basis -point hike, to aggressively tackle inflation in the US economy, taking the fed’s funds rate to its highest levels since the global financial crisis in 2008.

The UK and the European Union have also raised rates, while in Africa, Ghana and South Africa have also raised rates.

Some analysts described Nigeria’s hike in interest rate for three consecutive times as a way to lure foreign inflows into the country and ease the pressure on the naira.

Business owners say borrowing at high interest rates puts their businesses at risk.

Tags: breakingCentral Bank of Nigeria (CBN)Godwin EmefieleHeritageheritage timesheritagetimesmedialatestnewsthe heritage timesthtthtafricatop stories
ShareTweetSend
Previous Post

Solomons Island Rejects Biden’s Pacific Outreach Amid China Challenge

Next Post

World Running Out Of Patience With Taliban, Says UN Envoy

Related Posts

South Africa Urges Transparency In Global Credit Ratings At G20 Talks

South Africa Urges Transparency In Global Credit Ratings At G20 Talks

October 17, 2025
Ivory Coast To Supply Guinea With 50 Million Litres Of Fuel After Depot Fire

Egypt Raises Fuel Prices Again, Freezes New Rates For One Year

October 17, 2025

Russia Jails 15 Ukrainian Soldiers Over Terrorism

Egypt Set To Finalise New Debt Swap With Europe Before Year-End – Minister

Ghana Signs Landmark Agreement To Export Nurses To Grenada

Kenya: Over A Dozen Injured In Stampede At Odinga’s State Funeral

Next Post
World Running Out Of Patience With Taliban, Says UN Envoy

World Running Out Of Patience With Taliban, Says UN Envoy

Please login to join discussion
MWC Kigali MWC Kigali MWC Kigali
AfriHeritage Magazine Issue 2 AfriHeritage Magazine Issue 2 AfriHeritage Magazine Issue 2

Updates

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
South Africa Urges Transparency In Global Credit Ratings At G20 Talks

South Africa Urges Transparency In Global Credit Ratings At G20 Talks

October 17, 2025
Ivory Coast To Supply Guinea With 50 Million Litres Of Fuel After Depot Fire

Egypt Raises Fuel Prices Again, Freezes New Rates For One Year

October 17, 2025
Russia Jails 15 Ukrainian Soldiers Over Terrorism

Russia Jails 15 Ukrainian Soldiers Over Terrorism

October 17, 2025
Egypt Set To Finalise New Debt Swap With Europe Before Year-End – Minister

Egypt Set To Finalise New Debt Swap With Europe Before Year-End – Minister

October 17, 2025
JESIN GAMES - AfriTrivia JESIN GAMES - AfriTrivia JESIN GAMES - AfriTrivia
ADVERTISEMENT

Most Recent

South Africa Urges Transparency In Global Credit Ratings At G20 Talks

October 17, 2025

Egypt Raises Fuel Prices Again, Freezes New Rates For One Year

October 17, 2025

Russia Jails 15 Ukrainian Soldiers Over Terrorism

October 17, 2025

Egypt Set To Finalise New Debt Swap With Europe Before Year-End – Minister

October 17, 2025

Ghana Signs Landmark Agreement To Export Nurses To Grenada

October 17, 2025

Kenya: Over A Dozen Injured In Stampede At Odinga’s State Funeral

October 17, 2025

Madagascar: Coup Leader Vows To Strengthen National Unity At Swearing-In

October 17, 2025

GSMA MWC25 Kigali: Africa’s flagship Event Returns To Spotlight AI, Fintech, And Connectivity

October 17, 2025

About

Heritage Times HT stands as a beacon of pan-African journalism, dedicated to amplyfing the rich tapestry of voices and narratives across the continent. With unwavering commitment, we illuminate the evocative essence of Africa, offering a fresh perspective that captivates our global audience.

Featured

One Year of Transformative Stewardship: Walson-Jack’s Innovative Impact on Nigeria’s Civil Service

Africa’s Largest Tech Event, MWC25 Kigali, Returns With Focus On Innovation, Policy

Nadine Djuiko: Meet The Cameroonian Woman Behind Maryland’s Million-Dollar Braiding Empire

Connect

Connect with us on social media and receive timely updates on the go.

Get Updates

  • About
  • HT Management
  • Privacy Policy

© 2025 Heritage Times (HT) Media.

No Result
View All Result
  • Welcome
  • Politics
  • Economy
  • Security
  • Exposé
  • Education
  • Sports
  • Health
  • Entertainment
  • Legal
  • Technology and Science
  • Columns
    • Opinion
  • World
  • __________________
  • Make a Donation
  • Photo Speaks
  • Videos
  • You-Report
  • Whistleblower
  • Advertise
  • HT Events
  • HT Management
  • About HT
  • Contact us

© 2025 Heritage Times (HT) Media.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In