The Central Bank of Nigeria (CBN) has increased the Monetary Policy Rate (MPR), which benchmarks interest rates in the country, to 27.50 per cent.
The interest rate was raised from 27.25 per cent by the Monetary Policy Committee (MPC) of the CBN.
CBN Governor Olayemi Cardoso announced this at a press conference after the committee’s meeting in Abuja on Tuesday, November 26, 2024.
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