Nigeria's apex bank raises benchmark interest rate to 13 pct

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Nigeria's apex bank raises benchmark interest rate to 13 pct

STORY: Nigeria's apex bank raises benchmark interest rate to 13 pct DATELINE: May 26, 2022 LENGTH: 00:01:30 LOCATION: Abuja CATEGORY: ECONOMY SHOTLIST: 1. various of Abuja city, Nigeria's capital 2. various of central bank of Nigeria building 3. various of commuters 4. various of small businesses 5. SOUNDBITE (English): GODWIN EMEFIELE, Governor of the CBN STORYLINE: Nigeria's apex bank on Tuesday raised the Monetary Policy Rate, the benchmark interest rate, to 13 percent -- the first hike in more than two years. The Central Bank of Nigeria (CBN) raised the interest rate by 150 basis points to combat rising inflation in the most populous African country, Godwin Emefiele, governor of the CBN, told reporters at the end of the apex bank's Monetary Policy Committee (MPC) meeting in Abuja, the Nigerian capital. The bank, however, retained all other parameters, including the cash reserve ratio at 27.50 percent, and the liquidity ratio at 30 percent, Emefiele said. According to the apex bank's governor, the b

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