The Central Bank of Nigeria, on Wednesday, raised its benchmark lending rate to 18.5 per cent, from 18 per cent, in an aggressive push to contain the nation’s inflationary pressure.
The CBN governor, Godwin Emefiele, announced this Wednesday after the bank’s Monetary Policy Committee (MPC) meeting that began Tuesday.
Mr Emefiele while addressing journalists at the end of the two-day meeting in Abuja, said the committee voted to keep the asymmetric corridor at +100 and -700 basis points around the MPR.
