CBN raises monetary policy rate to 13% for first time in two years

For the first time in over two years, the Central Bank of Nigeria (CBN) has increased the Monetary Policy Rate (MPR) to 13 per cent.

Godwin Emefiele, governor of the CBN, said this while reading the 285th communiqué issued at the end of the apex bank’s Monetary Policy Committee (MPC) meeting on Tuesday.

Mr Emefiele said…