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Nigeria Hikes Interest Rate to 26.25% In Effort to Tame Inflation

  • Central Bank raises benchmark interest rate to 26.25% to combat record inflation.
  • Measures aim to stabilise the naira and attract foreign investors.

 

Lagos, Nigeria – Nigeria’s benchmark interest rate was increased to 26.25% on Tuesday, marking the third hike this year by the Central Bank’s Monetary Policy Committee (MPC) in its efforts to control record inflation.

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