The Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) has increased the benchmark interest rate by 200 basis points to 24.75 percent.
This decision was announced in a Tuesday communique by CBN Governor Yemi Cardoso following the second MPC meeting of his tenure in Abuja.
This new interest rate marks a significant increase from the previous rate of 22.75 percent.
Dtails later..
