The Central Bank of Nigeria’s Monetary Policy Committee has increased the Monetary Policy Rate by 50 basis points to 27.25% from 26.75%, according to Governor Yemi Cardoso. The committee also raised the Cash Reserved Ratio by 50 basis points for Deposit Money Banks (DMBs) and merchant banks (14% to 16%).
CBN raises interest rate by 50 basis points to 27.25%
