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The Central Bank of Nigeria, CBN has raised its benchmark interest rate, the Monetary Policy Rate MPR to 22.75 per cent.
This represents 400 basis points from the current 18.75 percent.
CBN Governor, Mr Olayemi Cardoso announced this at the end of the Monetary Policy Committee, MPC meeting held in Abuja today.
In 2023, Nigeria’s MPC implemented a strategy of gradually increasing the MPR over four consecutive meetings.
Details soon…
Alleluia is the Assistant Editor and Content Writer at LagosPost.ng. She is a prolific writer and editor, she has written features and news stories on Lifestyle, Sports, Business, Politics and B2B marketing. She is also an event coordinator, host and social media content creator.
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