Business

CBN says it is not trying to “ unify exchange rates “  

The Acting Governor of the Central Bank of Nigeria, Mr. Folashodun Shonubi announced   an increase in the benchmark interest rate (MPR) by 25 basis points to 18.75% from its initial 18.5%. 


This was disclosed during Tuesday’s July 2025 MPC meeting at the CBN headquarters in Abuja. 


Shonubi added that output growth recovery remains positive as economic agencies adjust to zero subsidies on the price of fuel and convergence of exchange rate, and price development.