CBN raises interest rate to 24.75%

Business
By Toyibat Ajose
75

The Central Bank of Nigeria (CBN) increased the interest rate to 24.75% from 22.75 percent.

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Olayemi Cardoso, CBN governor, revealed this during a press briefing following the apex bank’s monetary policy committee meeting on Tuesday.

The new interest rate rose from 22.75 percent published by the MPC roughly a month earlier, signalling the committee’s second uncommon hike in two months.

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