CBN Cuts MPR to 23% to Boost Production
CBN has cut its Monetary Policy Rate to 23% to boost production, business investment and economic growth while keeping inflation under control.
Tag: Central Bank of Nigeria
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Nigerians’ Personal Loans Hit N2tn as Borrowing Rises
Nigerians’ personal loans climbed to N2.06tn in May 2026 as rising living costs and financial pressure pushed more households to rely on credit for everyday needs
CBN Cuts Interest Rate to 23% as Inflation Falls
The Central Bank of Nigeria (CBN) has cut its benchmark interest rate to 23 per cent from 26.5 per cent. The decision came after the Monetary Policy Committee (MPC) meeting in Abuja on Tuesday. CBN Governor Olayemi Cardoso announced the rate cut after the committee’s 307th meeting. “The Committee decided as follows: reset the monetary…
Naira Strengthens to N1,356 as Nigeria Reserves Rise to $50.51bn
Naira strengthens to N1,356 per dollar at the official market as Nigeria’s foreign reserves climb to $50.51bn The naira gained strength on Monday in the official foreign exchange market. It closed at N1,356 per dollar. This is its best level since April 23, 2026. The previous close on Friday was N1,365.4 per dollar. That shows…