Breaking: Again, CBN raises interest rate

The Central Bank of Nigeria (CBN) has again raised the Monetary Policy Rate by 150 basis points to 26.25 Per cent from 24.75 percent.

Briefing the press on the outcome of the 295th Monetary Policy Committee (MPC) meeting in Abuja, the Governor of CBN, Mr. Olayemi Cardoso, also announced that the committee retained the asymmetric corridor of +100/-300 basis points.

The 295th MPC meeting is the third since the appointment of Cardoso in September last year.

Details later…