CBN reduces interest rate to 27%

The Central Bank of Nigeria (CBN) has lowered the country’s interest rate by 50 basis points to 27%, marking the first rate cut in 2025.

CBN Governor Olayemi Cardoso announced the decision during a press briefing on Tuesday following the 302nd Monetary Policy Committee (MPC) meeting in Abuja.

The reduction comes after three consecutive pauses in rate adjustments and follows six consecutive rate hikes recorded throughout 2024.

Cardoso attributed the decision to the consistent disinflation observed in Nigeria, signaling a shift in monetary policy to support economic stability.