Video - Central bank of Nigeria raises key lending rate by 25 basis points

Samson Owolabi, an associate in research and portfolio management at Zedcrest Wealth, says there were several key reasons behind the Central Bank of Nigeria (CBN) increasing the interest rate, including persistent inflation and record levels of money supply. Owolabi, however, added that the CBN needs to find alternative methods of addressing such issues rather than simply resorting to interest hikes.

CGTN