CBN May Raise Banks Lending Rate To 17% In January – LCCI

The Lagos Chamber of Commerce and Industry (LCCI) has said that the Central Bank of Nigeria (CBN) benchmark lending rate is expected to rise to 17 percent during the MPC meeting this month to curb persistent inflation and prevent capital flight.

The rates rose from 11.5 percent in January and peaked at 16.5 percent as at November 2022.

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