The CBN Governor, Godwin Emefiele, announced Tuesday that the Central Bank of Nigeria has raised the interest rate to 13.5 per cent.
Emefiele, while addressing reporters after the Monetary Policy Committee (MPC) meeting in Abuja, said said the MPC is suspicious of an “aggressive accretion of inflation”.
The MPC had to increase the monetary policy rate by 150 basis points to prevent the looming inflation.
