CBN slashes interest rate to 27%

The Central Bank of Nigeria (CBN) has reduced interest rate from 27.5 per cent to 27 per cent.

CBN Governor Olayemi Cardoso announced this at a press conference in Abuja on Tuesday, September 23, 2025.

The rate adjustment was made by the CBN’s Monetary Policy Committee (MPC).

This marks a departure from the aggressive tightening monetary policy stance of the MPC since 2024.

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Cardoso said the committee also decided to lower the Cash Reserve Ratio (CRR) to 45 per cent from 50 per cent for commercial banks, and retained it at 16 per cent for merchant banks.

He said the MPC also retained the Liquidity Ratio at 30 per cent, and adjusted the Asymmetric Corridor to +250/-250 basis points from +500/-100 basis points around the MPR.

The Star