The Central Bank of Nigeria (CBN) has decided to maintain its benchmark lending rate at 27%, marking a significant move in the country’s monetary policy.
This decision was announced by CBN Governor Olayemi Cardoso during the 303rd meeting of the Monetary Policy Committee (MPC) in Abuja.
The retained interest rate is expected to provide some relief to individuals and businesses, as high lending rates have significantly impacted access to credit.
The CBN’s decision reflects its efforts to stabilize the economy, curb inflation, and support economic growth.
