FINANCE UPDATE FOR THE WEEK

Interest rate (MPR):                        12.5%

 

Crude oil price (USD):                    $39.36

 

CBN exchange rate (USD/NGN):  N379

 

Inflation rate:                                  13.22%

Inflation rate rose by 0.4% compared to last week. “This is the highest figure recorded in 29 months since March 2018 (13.24%)”- Nairametrics

 

Federal Government apologizes for the misleading tweets (now deleted) that went up yesterday via their verified twitter handle, regarding the completion of self-certification forms for each account in their respective financial institutions in order to carry out due diligence procedures in line with the Income Tax Regulations 2019. FGN however stated that the FIRS will issue appropriate clarification shortly. Read more here