BREAKING: CBN cuts interest rate to 23 percent

The Central Bank of Nigeria, CBN, has chopped its involvement complaint to 23 per cent from 26.5 per cent.

The CBN Governor, Olayemi Cardoso, disclosed this during a briefing aft the 307th Monetary Policy Committee, MPC gathering connected Tuesday.

Announcing the complaint cut, Cardoso said, “The Committee decided arsenic follows: reset the monetary argumentation complaint to 23 per cent.”

He added that the apex slope has been capable to rise the country’s overseas reserves to $55 billion. 

The MPR chopped follows a clasp astatine the 2 erstwhile MPC meetings and a 50-basis-point chopped announced successful February 2026.

Recall that Nigeria’s ostentation complaint fell for 2 consecutive months successful July and August 2026, declining to 15.39 per cent successful August from 15.43 per cent recorded successful July.

BREAKING: CBN cuts involvement complaint to 23 percent