Here is why savings rates are rising slowly

interest rate

When the Monetary Policy Committee (MPC) of the Central bank of Nigeria (CBN) raised its key interest rate last month, it brought hope to savers, yet the rise in the 1-year Treasury Bill (T-Bills) since has been modest. The MPC at its May meeting hiked its policy rate by 150bps to 13percent. “We assumed a rate […]

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