{"id":98332,"date":"2022-08-19T08:25:54","date_gmt":"2022-08-19T07:25:54","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=98332"},"modified":"2022-08-19T08:25:54","modified_gmt":"2022-08-19T07:25:54","slug":"cbn-hikes-interest-rate-to-9-on-intervention-facilities","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/cbn-hikes-interest-rate-to-9-on-intervention-facilities\/","title":{"rendered":"CBN Hikes Interest Rate To 9% On Intervention Facilities"},"content":{"rendered":"<div style=\"text-align: justify;\">The Central Bank of Nigeria (CBN) has increased the interest rate of its intervention facilities from five per cent to nine per cent.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The bank in a circular signed by the apex bank\u2019s Director, Financial Policy and Regulation Department, Chibuzo Efobi, dated August 17, stated that the directive takes effect from September 1st.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The circular titled \u201cADJUSTMENT OF INTEREST RATE ON ALL CENTRAL BANK OF NIGERIA INTERVENTIONS\u2019, states: \u201cFurther to our Circular dated March 15, 2022 (Ref: FPR\/DIR\/PUB\/CIR\/001\/040) extending the period of interest rate reduction on all intervention facilities from 9 per cent to 5 per cent per annum (as part of measures to mitigate the negative impact of COVID-19 pandemic on the Nigerian economy) the Central Bank of Nigeria hereby reverts the interest rate on all its intervention facilities to 9 per cent per annum.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">\u201cThe revised rate shall be implemented as follows: All intervention facilities granted effective July 20, 2022 shall be at 9 per cent per annum; and All existing intervention facilities granted prior to July 20, 2022 shall be at 9 per cent per annum effective September 1, 2022.\u201d<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Central Bank of Nigeria (CBN) has increased the interest rate of its intervention facilities from five per cent to nine per cent. The bank in a circular signed by&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":93230,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-98332","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CBN Hikes Interest Rate To 9% On Intervention Facilities - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/cbn-hikes-interest-rate-to-9-on-intervention-facilities\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBN Hikes Interest Rate To 9% On Intervention Facilities - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"The Central Bank of Nigeria (CBN) has increased the interest rate of its intervention facilities from five per cent to nine per cent. 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