The Central Bank of Nigeria (CBN) has recently raised its benchmark interest rate to an unprecedented 26.25% from 24.75%. This move is aimed squarely at tackling the country’s skyrocketing inflation rate, which stood at a worrying 33.69% in April. In this explainer, we’ll dive into what these numbers mean for everyday Nigerians and the economy … Continue reading Explainer: How the CBN Interest Rate Hike to 26.25% Will Affect You