BREAKING: CBN Raises Interest Rate to 26.75% to Combat Inflation

The Monetary Policy Rate (MPR) has been raised from 26.25% to 26.75%, as the Central Bank of Nigeria (CBN) increases it by 50 basis points.

The decision is made during a period of surging food prices and heightened inflation within the nation.

Read Also: CBN Sets New Rules for Dormant Accounts and Unclaimed Balances

Following the 296th Monetary Policy Committee (MPC) meeting held in Abuja on Tuesday, CBN Governor Olayemi Cardoso declared this announcement.

Additional information will be provided later…