Regulatory Alerts2025-12-09
NDIC Quarterly Vol 39 No 3&4 2024 – Review of Macroeconomic Developments in the Fourth Quarter of 2024
Nigeria's economy expanded by 3.84% in Q4 2024, led by the non-oil and service sectors, amidst a rise in total public debt to N144.67 trillion and continued inflationary pressures. To address these conditions and stabilize the financial landscape, the Monetary Policy Committee increased the Monetary Policy Rate to 27.50% and maintained Cash Reserve Ratios for banks. Furthermore, new CBN circulars were issued to facilitate the voluntary disclosure and repatriation of foreign currencies, while also removing the Standing Deposit Facility from direct MPC oversight, remunerating it at MPR minus 100 basis points.
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