BusinessNewsNigeriaPoliticsCBN Lowers Interest Rate to 23% as Inflation Eases
The Central Bank of Nigeria has cut its benchmark interest rate from 26.5 percent to 23 percent, marking a 350-basis-point reduction as inflation continues to ease. CBN Governor, Olayemi Cardoso, announced the decision on Tuesday after the 307th meeting of the Monetary Policy Committee in Abuja. “The Committee decided as follows: reset the monetary policy rate to 23 percent,” Cardoso said. The new rate is the lowest since February 2024 and comes after the MPC...










