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Nigeria’s central bank cuts benchmark lending rate to 12.5%

Nigeria’s central bank cut its benchmark lending rate to 12.5% from 13.5%, the central bank governor said on Thursday.

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Nigeria’s central bank cut its benchmark lending rate to 12.5% from 13.5%, the central bank governor said on Thursday.

Central Bank Governor Godwin Emefiele said seven of the 10 members of the monetary policy committee backed the cut. It is the first cut since March 2019. (Reuters)

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