LCCI STATEMENT ON THE MPC DECISIONS ON MONETARY POLICY RATE

LCCI STATEMENT ON THE MPC DECISIONS ON MONETARY POLICY RATE

The Lagos Chamber of Commerce and Industry (LCCI) acknowledges the recent decision of the Central Bank of Nigeria (CBN) to raise the benchmark lending rate by 400 basis points to 22.75%, in what has been described as an aggressive regulatory intervention. The move comes at a crucial time for the Nigerian economy, facing challenges such…

LCCI’S STATEMENT ON THE INCESSANT INCREASE OF THE CUSTOMS DUTY RATE

LCCI’S STATEMENT ON THE INCESSANT INCREASE OF THE CUSTOMS DUTY RATE

The Customs Duty Rate, being the rate with which Customs evaluate imports to arrive at duties to pay, is normally affected by the prevalent exchange rates against the Naira. In recent weeks, we have seen the Naira suffer a hit against the major currencies, falling to as low as N1,900 against the Dollar and N2,250…