Yemi Cardodo has hiked the CBN Interest Rate to 26.75% amid hardship.
NewsOnline Nigeria reports that the Central Bank of Nigeria (CBN), on Tuesday, raised the Monetary Policy Rate (MPR), which measures interest rates by 50 basis points, from 26.25% to 26.75% amid soaring inflation and skyrocketing food prices.
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This Nigeria news platform understands that the Governor of the apex bank, Olayemi Cardoso, announced this after the apex bank’s 296th Monetary Policy Committee (MPC) meeting in Abuja.
More details later…
