BREAKING: CBN raises interest rate to 22.75% to tackle rising inflation

“As far as CBN is concerned, we are moving to a very
aggressive regulatory environment”, he added, speaking on the implementation of
its policy.

He said the bank will continue to make the market more
liquid, warning that operators who are not willing to abide by regulations will
face the consequences.

The last time the MPC raised interest rates was in July.

MPC held its first Meeting since its appointment in
September with a move to tighten monetary policy measures.

Recall that the Chief Executive Officer of the Financial
Derivatives Company, Bismarck Rewane, said the Central Bank Monetary Policy
Committee will have no option but to tighten interest rates amid soaring
inflation and economic hardship.