Banks yet to lower lending rates nearly a week after CBN’s MPR cut
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Banks yet to lower lending rates nearly a week after CBN’s MPR cut
29 Sep, 2026
Nigerian banks have yet to reduce lending rates nearly a week after the Central Bank of Nigeria (CBN) cut the Monetary Policy Rate (MPR) by 350 basis points, raising concerns that borrowers may not immediately benefit from the apex bank’s latest policy adjustment. CBN Governor Olayemi Cardoso announced on September 22, 2026, that the benchmark interest rate had been reduced from 26.5% to 23%, marking the largest cut in nearly two decades..............….......READ MORE
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