CBN keeps interest rate at 14%

CBN Governor,  Godwin Emefiele

The Central Bank of Nigeria (CBN) has kept its main interest rate at 14 percent on Tuesday, Godwin Emefiele its governor said, marking two years at the record high level.

Emefiele cited the risk of increasing inflationary pressure in the decision by the bank’s monetary policy committee to hold the rate at its current level. The rate has been held at 14 percent since July 2016.

Agency Report