This is the first interest rate meeting and decision by the CBN since President Bola Tinubu took over on May 29.
The Monetary Policy Committee had raised the MPR from 17.5 per cent to 18 per cent at its last meeting in March.
It was the 6th consecutive time that the committee would hike the MPR, which was the baseline lending rate in the economy.
The upturn was impacted by investors’ interest in stocks of Zenith Bank, WAPIC and Stanbic Bank, mong others.
The RT200 Non-Oil Export Proceeds Repatriation Rebate Scheme aims to increase the country’s foreign reserves by 200 billion in foreign exchange earnings.
The apex bank’s governor, Godwin Emefiele, also urged NNPC to take steps to ensure supply of petroleum products.
The 10 members of the committee at the meeting were said to be divided on policy decisions.
He also assured Nigerians would soon buy rice at a reasonable price.
Speculators say the current rates would continue to change over the course of the week.
The All-Share Index lost 46.93 points or 0.12 per cent to close at 38,802.15.
