CBN raises interest rate to 26.25%

Monetary policy committee of the Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR), which benchmarks interest rates, from 24.75 percent to 26.25 percent. This comes after Nigeria’s inflation rate rose to 33.69 percent amid the surge in food prices. Olayemi Cardoso, CBN’s governor, announced the monetary policy rate adjustment at a […]