The Central Bank of Nigeria (CBN) has cut the interest rate by 50 basis points to 26.50 per cent from 27 per cent. Nigeria’s apex bank announced this during its two-day 304th Monetary Policy Committee (MPC) meeting, which concluded on Tuesday in Abuja. This comes after the country’s interest rate cooled in January to 15.10 per cent from 15.15 per cent, according to the National Bureau of Statistics (NBS), strengthening the case for a reduction.......................................…...READ MORE