CBN increases monetary policy rate

The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR), which measures interest rate, from 18.5 percent to 18.75%. Acting CBN Governor, Folashodun Shonubi, announced this on Tuesday after the bank’s Monetary Policy Committee (MPC) meeting in Abuja. This is the first decision of the monetary committee since President Bola Tinubu’s assumption of office […]

The Monetary Policy Committee of the Central Bank of Nigeria has increased the Monetary Policy Rate by 50 basis points to 18%. This was disclosed by the CBN Governor, Godwin Emefiele, on Tuesday while reading the communiqué of the second MPC meeting. He said the committee also pegged the liquidity ratio at 30%. The MPC committee voted[…]