CBN MPC member, Adenikinju Festus, moves for interest rate increase, probe of forex market

Adenikinju Festus, one of the members of the Monetary Policy Committee of the Central Bank of Nigeria (CBN) moved for the increase of MPR, while asking the apex bank to probe the foreign exchange market operations in Nigeria.

Festus stated that the high level of inflation and interest rates margin is unacceptably wide, but he voted for the…

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