The central bank of Nigeria’s Monetary Policy Committee (MPC) at the end of its monthly meeting in Abuja on Tuesday decided to hold the interest rate at 14%.
The central bank governor, Godwin Emefiele said the committee decided to hold the rates because it will allow more clarity for the economy.
The committee attributed the high food index to attacks on farmers by herdsmen and flooding in some parts of the country.
The committee also said investors favoured the investors forex window to the parallel market.
It also commended the federal government for signing the executive order on ease of doing business.