CBN Hikes Interest Rate Benchmark to 22.75% From 18.75%
The Central Bank of Nigeria’s Monetary Policy Committee [MPC] has raised interest rate benchmark to 22.75% from 18.75% in an aggressive bid to curb inflation which currently stands at 29.9%.
Governor of the Central Bank, Yemi Cardoso announced the decision of the MPC at the end of its two-day meeting on Tuesday in Abuja.
More to follow….