Olayemi Cardoso has announced a new CBN interest lending rate.
NewsOnline Nigeria reports that the Central Bank of Nigeria (CBN) Monetary Policy Committee has unanimously voted for the hike in lending rate (MPR) by 50 basis points to 27.25 per cent from the previous position of 26.75 per cent.
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This Nigeria news platform understands that the Central Bank of Nigeria (CBN) Governor, Mr Olayemi Cardoso disclosed this on Tuesday after a two-day meeting by the MPC member.
This was even as he admitted that the CBN had no choice but to make tough decisions that would improve the economy in a long time.
Details later…
