The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR), which measures interest rate from 16.5% to 17.5 percent.
The CBN Governor, Godwin Emefiele announced this in Abuja on Tuesday, January 24, 2023, following the apex bank’s Monetary Policy Committee (MPC) meeting.
This is the fifth time the CBN would increase the interest rate.
