Nigeria’s interest rate hike to bring stability

Analysts say the move by the Monetary Policy Committee of the Central Bank of Nigeria to raise interest rates by 150 basis points to 13 per cent from 11.5 per cent, was expected due to global events and rising inflation. Bismarck Rewane, the CEO of Financial Derivatives and Nnamdi Nwizu, Co-Managing Partner at Comercio Partners, joined CNBC Africa to discuss key expectations.