BREAKING: CBN Increase Interest Rate to 27.50 Percent

The Central Bank of Nigeria (CBN) has raised the monetary policy rate to 27.50 per cent from 27.25 per cent.

The Central Bank of Nigeria (CBN) has increased the Monetary Policy Rate (MPR) to 27.50% from the previous 27.25%.

The decision was announced by CBN Governor, Yemi Cardoso, during the final Monetary Policy Committee (MPC) meeting of the year held at the bank’s headquarters in Abuja on Tuesday.

The MPR serves as the benchmark interest rate, influencing lending rates in the country

More to follow…