JUST IN: CBN Increases Interest Rate To 22.75% 

Central Bank of Nigeria (CBN)’s Monetary Policy Committee (MPC) has raised the Monetary Policy Rate(MPR) by four hundred basis points to 22.75 percent from 18.75 percent.

Gatekeepers News reports that Governor of the CBN Yemi Cardoso announced this after the first MPC meeting for the year in Abuja on Tuesday.

The MPC also raised the Cash Reserve Ratio(CRR) to forty-five percent while the liquidity ratio was left unchanged at thirty percent.

This is a developing story…