By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: CBN Raises Interest Rate to 27.25 Percent
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
EconomyTop stories

CBN Raises Interest Rate to 27.25 Percent

Oluwadara Akingbohungbe
By Oluwadara Akingbohungbe
Published: September 24, 2024
Share
1 Min Read
CBN Governor, Olayemi Cardoso,
Governor, Central Bank of Nigeria, Dr. Olayemi Cardoso
SHARE

The Central Bank of Nigeria’s Monetary Policy Committee has raised the benchmark interest rate, also known as the Monetary Policy Rate (MPR), to 27.25 percent. This is an increase of 50 basis points from the previous rate of 26.75 percent announced in July 2024.

The new rate represents an 8.5 percent increase in interest rates under the current leadership, which took office a year ago.

CBN Governor, Olayemi Cardoso stated that the committee unanimously decided to further tighten monetary policy while addressing newsmen at an ongoing press briefing at the aftermath of the committee’s fifth meeting for the year at the CBN headquarters on Tuesday in Abuja. This move comes despite financial experts’ expectations that the CBN would either hold or lower interest rates following two consecutive months of declining headline inflation.

Historically, the MPR has fluctuated, with previous rates including 26.75 percent in July 2024, 26.25 percent in May 2024, and 24.75 percent in March 2024.

- Advertisement -

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:CBN
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
Previous Article Funeral Of Renowned Islamic Singer to Be Held in Ogun
Next Article Abdul Samad Rabiu Donates ₦2 Billion to Support Flood Victims in Borno State

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow
- Advertisement -
Ad imageAd image
- Advertisement -
- Advertisement -
Ad imageAd image

Recent Posts

Delta Governor: Defection to APC Aimed at Advancing State, Not Weakening PDP
Politics
Tinubu to Attend Pope Leo XIV’s Inauguration in Rome
News
VeryDarkMan
Police Re-arraign VDM Over Cyberbullying Allegations Against Nollywood Actresses, Others
News
JUST IN: House of Reps Advances Bill to Make Voting Mandatory
News Top stories
Panic in Ondo as Two-Month-Old Baby Disappears
News
- Advertisement -
Ad imageAd image

You May Also Like

Brands

Nestlé Empowers Over 300 Youths in Lagos Through MYOWBU Entrepreneurship Workshop

Yusuf Abubakar
Yusuf Abubakar
May 15, 2025
News

EFCC Removes Foreign National Elie Bitar from Wanted List Over CBEX Fraud Allegations

Muhammad A. Aliyu
Muhammad A. Aliyu
May 15, 2025
Sport

Nottingham Forest’s Taiwo Awoniyi Wakes from Induced Coma, Recovering After Emergency Surgery

Muhammad A. Aliyu
Muhammad A. Aliyu
May 15, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?