Business Headline News Nigeria

CBN retains interest rate at 11.5%

The Central Bank of Nigeria’s Monetary Policy Committee has retained the Monetary Policy Rate (MPR) at 11.5% and kept all other parameters unchanged.

This was announced by CBN Governor Godwin Emefiele on Tuesday, January 25, at the apex bank’s headquarters in Abuja. 

The MPR which has remained unchanged for months is a powerful tool for regulating interest rates in the economy.

Editing by Tola Oguneye