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| CBN Governor Olayemi Cardoso |
The Central Bank of Nigeria (CBN) has cut the benchmark interest rate to 27.00 percent, marking the first reduction in 2025.
This announcement came after the Monetary Policy Committee’s (MPC) 302nd meeting held in Abuja on Tuesday, September 23, 2025.
CBN Governor Olayemi Cardoso revealed in a press briefing that the MPC decided to lower the monetary policy rate by 50 basis points, bringing it down from previous levels to 27 percent. This move ended a period of three consecutive rate pauses.
Governor Cardoso attributed the rate cut to the ongoing trend of consistent disinflation in the Nigerian economy.
The CBN had also reportedly implemented six consecutive rate hikes throughout 2024 before this reduction.
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