BREAKING: CBN raises interest rate for first time in over two years to 13%

By Uchechi Ojo May 24, 2022330 views

CBN Governor, Godwin Emefiele

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has voted unanimously to raise the Monetary Policy Rate (MPR) to 13 per cent.

CBN Governor, Godwin Emefiele, announced this on Tuesday while briefing reporters at the end committee’s meeting at the apex bank’s headquarters in Abuja.

It is the first time in two and a half years that the policy-setting committee of the nation’s financial regulator would increase the MPR, which measures the interest rate.

More to follow…

Uchechi Ojo

Uchechi Ojo, is a Lagos-born and based writer, newscaster and voice-over artist. A versatile and committed journalist with the yearning to make a difference in the industry. She writes balanced, informative and interesting stories. Uchechi has the ability to interact and listen with rapt attention, excellent time management and great communication skills while paying attention to detail. She is very approachable and a good team player. Instagram | LinkedIn