₦airaland Forum

The Monetary Policy Committee of the Central Bank of Nigeria voted Tuesday to increase the benchmark interest rate by 100 basis points to 16.5 per cent, the highest since 2001.

The CBN Governor, Godwin Emefiele, disclosed this while reading the communique of the last MPC meeting of the year on Tuesday, November 22, 2022.

The MPC said the tightening would curb a higher rate of inflation and restore investors’ confidence.

According to a report by Nairametrics, the highlights of the MPC meeting included: increase MPR by 100 basis points to 16.5 per cent; the asymmetric corridor of +100/-700 basis points around the MPR was retained; the CRR was retained at 32.5 per cent; while the Liquidity Ratio was also kept at 30 per cent.

The apex bank had increased the MPR from 11.5 per cent earlier this year to 15.5 per cent across three consecutive rate hikes.

Inflation rate rose to 21.09 per cent in October 2022 from 20.77 per cent in the previous month.

Aufbauh:
Was it the only thing you heard from Fayose?
I think Zombidients should be in pain listening to Fayose's submission.

Fayose believed that Obi can't get 25% in 24 states of the federation making it practically impossible for him to win.
However he admitted that Obi is a big cancer to the PDP if not check. That goes with what we've being saying that vote for Obi is a loss to Atiku and a win for Tinubu.

I think every grounded politician knows that Obi candidacy is a threat to the PDP, hence making the road to victory for the APC easier.

Eyesstone:
Where full gist?

DonBenny77:
Gist me abeg

StrongandMighty:
You're a very pathetic human being, when inec was invalidating thousands of votes from the south did they seek for public opinion? Why then now?
You're supporting evil because you think the evil will be to your own advantage, you're in for the greatest shock of your life..
Delusional you is thinking the North is doing this for agbado right?

lhordspy:
Why should a medicore thread like this be pushed to front-page. I see nothing here except more like a thread created by a confused man, asking the world how to deal with his cheating wife.

There are report buttons there. Report the ones you can and move on. Stop disturbing us on nairaland with nonsense.

You claim reporting it is stressful job for you, but you have the time going through the database , scrutinising from ward to ward look for abnormalities just so you can raise it up like an Ultimate search trophy, running to nairaland to post it here.

Isnt that stressful enough. The way some of you behave and do things. Some of you shouldn't be human.

lhordspy:
Then face your Job and stop coming here to disturb us.

Nigerians, sometime you people behave like illiterate. Sorry to say.

The main reason INEC made their registration database open is for you to pick out the abnormalities and report it for quick intervention.
Yet you come here crying to Seun, mynd44, nlfpmod, nairaland communities who have zero to no influence on making it right.

To even think someone is trying to educate you to try and get it fixed should be a shame on you. Nobody need to preach that to you. Your sense should tell you that. Human being thinks and act instead of crying and wailing to invoke public sympathy.

lhordspy:
Then face your Job and stop coming here to disturb us.

Thortp:
You can report this you know

slivertongue:
[/b]


Yes at the bolded

The National Bureau of Statistics (NBS) on Thursday said Nigeria’s inflation has risen to 21.09%.

NBS in its consumer price index (CPI) report for October 2022 disclosed that the consumer price index (CPI), which measures the rate of change in prices of goods and services, surged to 21.09 percent in October 2022, up from 20.77 percent in the previous month.

“On a month-on-month basis, the headline inflation rate for October 2022 was 1.24 percent, this was 0.11 percent lower than the rate recorded in September 2022 (1.36 percent),” NBS said in the report.

“This means that in October 2022 the general price level for the headline inflation rate (month–on–month basis) declined by 0.11 percent.”

“The percentage change in the average CPI for the twelve months ending October 2022 over the average of the CPI for the previous twelve months period was 17.86 percent, showing a 0.91 percent increase compared to the 16.96 percent recorded in October 2021.”

The latest figure shows that the general price level for the headline inflation rate increased in October 2022 when compared to the same month in the preceding year (October 2021) by 5.09 percent.

drlateef:
No!!!! Nov 2007 is what is there. Its fake.

drlateef:
Fake and doctored. I could see comments of April 07 and Nov 07. Some comment in Nov 07 was talking Atiku is coming. That was months after new government started few months earlier. This is obviously a doctored thread.