Former Governor of Central Bank of Nigeria, Godwin Emefiele
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR) to 14%.
The Chairman of the committee and Governor of CBN, Godwin Emefiele, disclosed this on Tuesday during a post-MPC briefing in Lagos.
The interest rate, which was pegged at 11.5% for over two years, was raised to 13% in May to tackle rising inflation, according to Emefiele.
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