Breaking: CBN raises interest rate to 18.5%


The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has increased the Monetary Policy Rate (MPR) from 18 per cent to 18.5 per cent.

The CBN Governor, Godwin Emefiele, made this known while speaking with journalists after the apex bank committee’s meeting in Abuja on Wednesday, May 24.

The MPR which is the baseline interest rate in an economy.

Details later…

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