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Home Service Industry news Tertiary news CBN cuts interest rate to 11.5 per cent

CBN cuts interest rate to 11.5 per cent

From Nduka Chiejina, Abuja. The Central Bank of Nigeria (CBN) has reduced interest rate from 12.5 per cent to 11.5 per cent. The measure, according to the apex bank, was taken after its Monetary Policy Committee’s (MPC) meeting in Abuja on Tuesday. It explained that the cut was taken to “provide cheaper credit” to Nigerians and businesses.


Posted: 2020-09-23 03:49:00

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