CBN increases interest rates to 14%

FastNews reports that on Tuesday, the Central Bank of Nigeria increased the interest rate to 14%.

Only two months have passed since the apex bank increased the interest rate to 13% before the new rate was announced.

This was disclosed by the governor of the apex bank, Godwin Emefiele, after the committee’s meeting at the CBN headquarters in Abuja.

The governor of the apex bank said the hike in interest rate would help tame rising inflation.

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