BusinessBREAKING: Again, CBN Raises Interest Rate To 24.75%

BREAKING: Again, CBN Raises Interest Rate To 24.75%


March 26, (THEWILL) – The Central Bank of Nigeria’s Monetary Policy Committee, after its 2-day meeting in Abuja, on Tuesday, voted to raise interest rate to 24.75% from 22.75%, in another aggressive move to tame hyper-inflation.

THEWILL reports that the MPC, however, retained Liquidity Ratio at 30% and Cash Reserve Ratio at 45%.

The MPC, at its last meeting in February, the first under the current regulator’s management, raised the rate by 400 points to 22.75%.


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