- Nigerian banks have begun raising interest rates to be in tune with the current realities a directed by the CBN
- This is as the CBN increased the monetary policy rate by 400 basis points at its last MPC meeting
- Analysts said that the customers will feel the effect of the interest rate hike intended to control inflation
Legit.ng journalist Zainab Iwayemi has over three years of experience covering the Economy, Technology, and Capital Market.
After the Central Bank of Nigeria (CBN) raised the benchmark interest rate, banks repriced their assets, meaning customers would have to pay more for borrowing money.
