CBN Raises Interest Rate to Record High in Bid to Tame Soaring Inflation Nigeria's Central Bank, in a bold move to combat rising prices, has hiked interest rates to a record-breaking 22.75%. This significant increase, the highest ever recorded in the country, comes as the nation grapples with inflation surpassing 29%.
The decision was announced by the Monetary Policy Committee (MPC) after a two-day meeting. The committee also opted to maintain the Cash...
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