The Central Bank of Nigeria’s Monetary Policy Committee (MPC) has increased the benchmark interest rate to 24.75%, from the previous 22.75%.
CBN Governor, Yemi Cardoso communicated this decision following the second MPC meeting of his tenure in Abuja on Tuesday, 26th of March, 2024.
This is the second interest rate hike by the committee in two months
Recall that CBN increased interest rate to 22.75% in February 2024
More details to come…
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