The Central Bank of Nigeria (CBN) has raised its benchmark interest rate, known as the Monetary Policy Rate (MPR), to an unprecedented 22.75% in an unpretentious determination to bring down excess liquidity in the system and fight rampaging inflation. The adjustment, announced on February 27, 2024, marks the first increase in eight months and sets … Continue reading Why CBN Raised Interest Rate (MPR) To 22.75%