On Tuesday, the Central Bank of Nigeria (CBN) raised its benchmark interest rate, known as the Monetary Policy Rate (MPR), by 25 basis points to 18.75, maintaining the hawkish stance of ousted governor Godwin Emefiele.
The CBN also adjusted the asymmetric corridor around the MPR to +100-300.
Also Read: CBN raises interest rate to 18% on rising inflation, fragile growth
This was announced by Folashodun Shonubi, acting governor of the CBN, after the two-day Monetary Policy Committee (MPC) in Abuja. The meeting outcome was delayed by over two hours compared to the previous meeting briefings.
Hope Moses-Ashike
Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks.
She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings.
Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.
