The Central Bank of Nigeria (CBN) has increased the Monetary Policy Rate (MPR), which benchmarks interest rates, to 26.75 per cent. The interest rate was raised by the Monitary Policy Committee (MPC) of the CBN from 26.25 per cent to 26.75 per cent.
CBN Governor Olayemi Cardoso announced this at the end of the committee’s 296th meeting in Abuja on Tuesday, July 23, 2024.
