Breaking: CBN Hikes Lending Rate By 150 Points To 26.25 Percent To Reign Inflation

To consolidate on gains derived from previous tightenings , Central Bank on Tuesday, raised the lending rate by 150 basis points.

The fresh hike by the Monetary Policy Committee( MPC )raised the lending rate to 26.25 percent from the March figure of 24.75 percent.

The measure endorsed by all twelve members of MPC, according to CBN governor Mr Olayemi Cardoso will tame inflationary pressure.