On Tuesday, the Central Bank of Nigeria increased the interest rate to 14%.
Only two months have passed since the apex bank increased the interest rate to 13% before the new rate was announced.
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Godwin Emefiele, governor of the central bank, announced this following a meeting of the committee at the CBN’s headquarters in Abuja.
According to the governor of the top bank, the increase in interest rates will help rein in rising inflation.
Details later…
