CBN Raises Interest Rate to 18.75%

The Central Bank of Nigeria (CBN) Monetary Policy Committee has moderately hiked monetary policy rates to 18.75 per cent.

The Acting Governor of Central Bank of Nigeria, Mr Folashodun Shonubi, disclosed this on Tuesday at a press briefing marking the end of the 292nd MPC meeting.

Recall that CBN, in its last MPC meeting, tightened the economy by raising the interest rate to 18.5 per cent.