CBN increases interest rate to 24.75% amid inflation

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The Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) has announced a significant increase in the benchmark interest rate in a move aimed at tackling rising inflation. The new Monetary Policy Rate (MPR) now stands at 24.75% up from the previous rate of 22.75%. Speaking to journalists after the MPC meeting, CBN Governor Yemi … Read more