JUST IN: CBN raises interest rate for first time in over two years to 13%

BusinessNews
By Toyibat Ajose
179

Following a unanimous vote, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has decided to increase the Monetary Policy Rate (MPR) to 13%.

Godwin Emefiele, Governor of the Central Bank of Nigeria, made the announcement on Tuesday while briefing reporters during a meeting of the end committee at the apex bank’s headquarters in Abuja.

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The policy-setting committee of the nation’s financial regulator has decided to raise the MPR, which is used to measure interest rates, for the first time in two and a half years. This will be the first time they have done so.

More to follow…

Toyibat Ajose 14362 posts 0 comments

Toyibat is a dedicated and results-driven professional with a strong background in media, education, and communication. Possessing exceptional interpersonal skills, a resourceful and innovative mindset, and a commitment to excellence. Proven ability to adapt quickly, meet targets, and prioritize readers satisfaction. Adept at both journalism and teaching roles, offering a unique blend of skills and experiences. Have over two years experience in Journalism and three years as a teacher. Self driven researcher.

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