The governor of the Central Bank of Nigeria (CBN) has indicated that the central bank will maintain high interest rates until inflation falls by implementing orthodox policies.

Inflation in Nigeria remains stubbornly high at 33.2 percent, the highest in three decades, while food inflation is even higher at 40 percent. The governor of the Central Bank of Nigeria (CBN style="font-family: "Bookman Old Style”, "serif">), Olayemi Cardoso indicated that the Monetary Policy Committee (MPC), which he chairs, will do whatever is needed. to contain the surge in inflation. According to him, “everything indicates that the MPC would do whatever is necessary. They will continue to do what needs to be done to ensure that inflation falls.” “The rise in interest rates has had a dampening effect on the foreign exchange market, which has therefore begun to moderate. It's not a zero sum game. You lose on the one hand, you win on the other,” said the governor.