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The Central Bank of Nigeria(CBN), yesterday, jerked up its Monetary Policy Rate  (MPR)to 14 per cent, attracting criticism from  business experts who predicted that the hike will lead to increased  corporate failures, unemployment  and decline in the nation’s stock market.

Zenith Bank Plc has again been rated Nigeria’s most customer-focused bank by the leading advisory and consultancy firm, KPMG.

The International Monetary Fund (IMF) and the Central Bank of Nigeria Governor Godwin Emefiele on Tuesday gave conflicting prognoses of the Nigerian economy, with the fund forecasting that the Nigeria economy was likely to contract by 1.8 per cent this year, warning that it was heading towards recession. Emefiele, on the other hand, during a closed-door briefing with the Senate, informed the upper legislative chamber that the economy was suffering from stagflation. A recession is defined as a significant decline in activity across the economy, lasting longer than a few months. It is visible in industrial production, employment, real income and wholesale-retail trade.                                  

The display of N60 million, reportedly recovered by the Rivers State Police Command, after a bullion van conveying over N100 million went missing on Friday, left many dumbfounded. The command said the money, belonging to one of the new generation banks in the state, was recovered on Monday after it was abandoned at the premises of a popular supermarket in a taxi car within GRA, Port Harcourt.                                                                                                     Missing Money Displayed

France and Britain were vying for fifth place on the list of the world's biggest economies on Wednesday, with France nudging ahead after a renewed slump in the pound in the wake of the Brexit vote, Reuters calculations showed. Britain's gross domestic product stood at 1.864 trillion pounds in 2015, according to the last available figures from the International Monetary Fund.