The Central Bank of Nigeria (CBN) has “reset” the Monetary Policy Rate (MPR) by 350 basis points to 23%, following the 307th meeting of the Monetary Policy Committee (MPC) in Abuja. CBN Governor Olayemi Cardoso announced the decision following the meeting, which had 11 members in attendance. The decision effectively reduces the benchmark interest rate from 26.5% and marks the second rate reduction this year. It also takes the MPR to its lowest level since February 2024, when it stood at 22.75%................….......READ MORE