Breaking: CBN increases interest rate

The Central Bank of Nigeria (CBN) on Tuesday January 24, 2023 announced increase in the MPR from 11.5 per cent earlier last year to 16.5 per cent across four consecutive rate hikes in 2022.

The apex Bank had through it’s Monetary Policy Committee voted to increase the benchmark interest rate by 100 basis points to 17.5 per cent.

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