Tag: Interest rates

CBN reduces lending rate to 27%, 1st time in 5 years

Aminu Imam
CBN reduces rate

The Central Bank of Nigeria (CBN)’s Monetary Policy Committee has reduced the interest rate by 50 basis points, from 27.5% in July to 27 percent.   This followed the decision of the 12 members of the Committee at its 302nd meeting held on September 22nd and 23rd, 2025. The asymmetric corridor around the Monetary Policy Rate (MPR) was retained at +260 and -250 basis points, providing a framework for liquidity management and signaling the CBN’s cautious approach toward market volatility.  CBN Governor, Olayemi Cardoso, who briefed journalists after the meeting, said…

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CBN retains 27.50% interest rate again

Aminu Imam
CBN retains

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria, (CBN), has retained the Monetary Policy Rate at 27.5%, marking its second consecutive hold in 2025. This decision was announced by the CBN governor, Olayemi Cardoso, during a press briefing yesterday in Abuja, following the conclusion of the MPC’s 300th meeting. This second pause in rates comes after six consecutive hikes recorded in 2024. Cardoso said, “The Committee was unanimous in its decision to hold policy and thus decided as follows: Retain the MPR at 27.50 percent”, adding that…

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‘CBN’s interest rate hikell worsen Nigerias situation’ – MAN

Aminu Imam
MAN on CBN

Says manufacturing companies operating below 30% The Manufacturers Association of Nigeria (MAN) has expressed concerns over the Central Bank of Nigeria (CBN) decision to increase the Monetary Policy Rate (MPR) from 26.75% to 27.25 percent. In an issued statement on Friday, the association said the decision has far-reaching implications for the manufacturing sector in Nigeria. MANs Director General, Segun Ajayi-Kadir, explained in the statement that the continued increase in interest rates, which now totals 15.75 percentage points since May 2022, would compound the challenges faced by the sector, including rising…

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CBN raises interest rate to 26.75% amid soaring inflation

Aminu Imam
CBN raises interest rate

The Central Bank of Nigeria, (CBN), has again raised the Monetary Policy Rate (MPR), which measures interest rates by 50 basis points, from 26.25% to 26.75% amid soaring inflation and skyrocketing food prices. CBN Governor, Olayemi Cardoso, announced this after the apex banks 296th Monetary Policy Committee (MPC) meeting in Abuja on Tuesday. The MPC also pegged the Cash Reserve Ratio (CRR) for Deposit Money Banks at 45%, while that of merchant banks was put at 14%. The liquidity ratio was pegged at 30%. The apex bank also adjusted the…

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?angote faults CBNs 30% interest rate

Aminu Imam
?angote faults

Chairman and Chief Executive of the ?angote Group, Aliko ?angote, has criticised the latest increment of interest rate to almost 30 percent by the Central Bank of Nigeria (CBN). While addressing the audience during the opening session of a three-day summit organised by the Manufacturers Association of Nigeria (MAN) at the State House, Abuja, yesterday, ?angote said businesses could not cope with the current rate. Recall that in May, following a two-day meeting, CBNs Monetary Policy Committee (MPC) agreed to increase the Monetary Policy Rate (MPR) for the third straight…

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Rising Inflation: CBN raises interest rate to 26.25%

Aminu Imam
CBN rates

The Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) has raised the Monetary Policy Rate (MPR) by 150 basis points to 26.25 percent, from 24.75 percent in March, in order to further tackle rising inflation. CBN Governor, Olayemi Cardoso, who disclosed this yesterday, at the 295th MPC press briefing in Abuja, said the decision to raise the benchmark interest rate was to tame the countrys soaring headline inflation which increased to 33.69 percent in April. CBN had continued tightening of monetary instruments to bring down inflation. The 295th MPC…

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‘Interest rates to remain high until inflation rate falls’ – Cardoso

Aminu Imam
CBN gov, Cardoso

…Reiterates commitment to monetary stability Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, had said interest rates would remain high until inflation rate comes down. Cardoso, who stated this in a Financial Times report yesterday.  also said orthodox policies would be implemented to tame inflation, said there is every indication that MPC would do whatever is necessary to rein in inflation. The CBN boss said, They will continue to do what has to be done to ensure that inflation comes down. Lets face it: for a long period…

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