Breaking: CBN Raises Interest Rate To 14% From 13%

The Central Bank Of Nigeria policy-setting committee had raised the monetary policy rate (MPR) from 13 percent to 14 percent.

Announced by the CBN governor, Godwin Emefiele, after the committee meeting on Tuesday, he said the hike is the apex bank’s attempt at taming rising inflation in the country.

This is the second raise in interest rate this year.

 

More details soon…

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