Nigerian banks' interest expense spiked by 34 percent, indicating the highest increase in five years on the back of interest rate hikes which caused a high operating environment for deposit money banks.
The Central Bank of Nigeria(CBN) raised its benchmark interest rate, known as Monetary Policy
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Folake Balogun
Folake Balogun is a tech journalist covering Africa’s fast-growing digital economy with a strong focus on incisive analysis of startup trends, venture capital, and fintech innovation, while also exploring emerging technologies such as artificial intelligence and the future of connectivity by highlighting their economic and social impact.
