CBN Implements Interest Rate Reduction for the First Time in Three Years
By Ajibola Olarinoye The Central Bank of Nigeria’s bigwigs (the Monetary Policy Committee) got together on Tuesday and decided, “ let’s give the country a little breathing room.” They actually dropped the interest rate from a sky-high 27.5% to a slightly less ridiculous 27%. Yeah, I know, not earth-shattering, but still—baby steps. CBN’s head ,…