‘Interest Rate Increased To 22.75%’ — CBN

The Central Bank of Nigeria (CBN) has increased the Monetary Policy Rate (MPR) by four hundred basis points to 22.75 per cent from 18.75 per cent.

The increase was made through the Apex Bank’s Monetary Policy Committee (MPC) on Tuesday, February 27, 2024.

Yemi Cardoso, the Governor of the CBN, made the disclosure after the first MPC meeting for the year in Abuja.

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