Nigeria: Cost of Borrowing to Remain High

21 November 2012

Cost of borrowing from banks will remain high for the rest of the year and could spill over into next year as the Central Bank of Nigeria (CBN) yesterday retained the prime interest rate at 12 percent.

The rate has remained unchanged since the middle of last year, as the central bank tightened its monetary policy to curb inflation which has continued to be in double digit since the beginning of the year.

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