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Central Bank of Nigeria announces new lending rate

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The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), has raised the country’s baseline lending rate by 150 basis points to 26.25 per cent.

Mr Yemi Cardoso, the Governor of CBN said this on Tuesday in Abuja, while reading the communique from the 295th meeting of the MPC.

The News Agency of Nigeria (NAN) reports that this is the third consecutive tightening of the lending rate, known as the Monetary Policy Rate (MPR) by the MPC under Cardoso. (NAN)

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