The Central Bank of Nigeria (CBN) has hiked interest rates from 18% to 18.50%.
The governor of the central bank, Godwin Emefiele, announced the decision on Wednesday during a policy-setting committee meeting at the CBN headquarters in Abuja.
Read Also:Â Accident on Ibadan-Ife expressway claims 2 lives, injures 3
This is the third time in a row that the apex bank has raised the monetary policy rate (MPR), which gauges interest rates.
Details Later…