|Economy|
CBN leaves MPR unchanged at 12%: The Central Bank of Nigeria (CBN) has decided to leave the monetary policy rate (MPR), otherwise known as interest rate unchanged at 12 percent with a corridor of +/- 200 basis points. It also retained the cash reserve requirement (CRR) of both public and private sector deposits at 75 percent and 15 percent respectively while the liquidity ratio was left at 30 percent. Source: Thisday

Foreign reserves up 3.8 percent: Data from the Central Bank of Nigeria (CBN), has revealed that foreign exchange reserves climbed to $38.49 billion on July 18, a 3.8 percent increase from $37.09 billion a month ago, owing to a more stable local currency. Source: Businessday

|Banking|
E-Commerce gets boost as First Bank partners PayPal: First Bank of Nigeria Limited has gone into partnership with PayPal, an international e-commerce payment and money transfer platform to boost online transactions. PayPal which is an easy and fast way to make online purchases in over 203 markets worldwide announced its partnership with FirstBank yesterday in Lagos. Source: Thisday

|Infrastructure|
Discos fault NERC’s condition for fixed charge collection: Owners of the privatised electricity distribution companies have faulted the condition recently introduced by the Nigerian Electricity Regulatory Commission, that they must not collect fixed charges from customers who did not get power supply for 15 days in a month. The Assistant General Manager, Regulatory Affairs, Enugu Electricity Distribution Company, Mr. Reuben Okoye, explained that outages were not caused solely by the Discos, adding that some of the issues that necessitated power failures across the country were as a result of transmission and generation bottlenecks. Source: Punch