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CBN hikes lending rate to 18.5 percent

For umpteenth time, Central Bank of Nigeria, CBN, has raised moderately,  lending rate by 50 basis point to 18. 5 percent from previous 18 percent position in a bid to curb inflationary pressure .

CBN governor Mr. Godwin Emefiele announced the decision on Tuesday at the end of Monetary policy Committee, MPC.

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Written by Jude Diugwu

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