The Central Bank of Nigeria (CBN), on Tuesday, raised its benchmark interest rate, known as the Monetary Policy Rate (MPR), by 25 basis points to 18.75 percent.
The apex bank also adjusted the asymmetric corridor around the MPR to +100-300.
The decision was announced by the acting Governor of the CBN, Mr. Folashodun Shonubi, after the two-day Monetary Policy Committee (MPC) in Abuja.
The outcome was delayed by over two hours compared to the previous meeting briefings.
