Nigeria MPC raises MPR by 25bps to 27.5% (Full Speech)

The Central Bank of Nigeria Monetary Policy Committee has raised the Monetary Policy Rate by 25 basis points to 27.5 per cent continuing its restrictive stance for the sixth consecutive time this year while leaving other key parameters unchanged. The Governor of the Central Bank of Nigeria, Olayemi Cardoso says the apex bank is focused on currency and price stability while highlighting on-going reforms will yield greater results in the first quarter of next year.