The Monetary Policy Committee of the Central Bank of Nigeria has moderately increased interest rates to 18.75%.
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At the press conference following the 292nd MPC meeting on Tuesday, Mr. Folashodun Shonubi, acting governor of the Central Bank of Nigeria, made this announcement.
In its most recent MPC meeting, the Central Bank of Nigeria (CBN) tightened the economy by raising the interest rate to 18.5%, as Platinum Times Nigeria previously reported.