The apex bank also raised the CRR to 45%
The Central Bank of Nigeria has raised the monetary policy rate (MPR) by 400 basis points to a record 22.75%.
The apex bank also raised the CRR to 45%.
This was announced by Yemi Cardoso, governor of the CBN, who chaired the Monetary Policy Committee (MPC) meeting for the first time since he assumed office in September 2023.
Details to come later
Follow us on:
Easily access major global news with a strong focus on Africa. As well as the main stories of the day, we like to accentuate positive stories about Africa across all genres including Politics, Business, Commerce, Science, Sports, Arts & Culture, Showbiz and Fashion.
We broadcast 24 hours a day from our studios in London and New York and can be seen here in the UK and across Europe on the Sky platform (Sky channel 516), Freeview (Channel 136) as well as in the USA on the Centric channel and also on the Hot bird platform, which transmits to Europe, North Africa and the Middle East.
© 2023 Arise News - Part of the Arise Media Group.
