Nigeria’s Central Bank Raises Benchmark Rate by 50 Basis Points

The Central Bank of Nigeria (CBN) raised the Monetary Policy Rate (MPR) by 50 ground points to 27.25% and accrued the Cash Reserve Ratio (CRR) for banks. These measures purpose to combat ostentation and stabilize the Nigerian economy. The CBN governor, Olayemi Cardoso, stated that the reforms implemented person restored the bank’s credibility and boosted […]