CBN Keeps Interest Rate Unchanged at 27.5%

The Central Bank of Nigeria (CBN) has decided to maintain the current interest rate at 27.5 percent.

This decision was made during the 300th meeting of the Monetary Policy Committee (MPC) held in Abuja.

The governor of the CBN, Olayemi Cardoso, made the announcement on Tuesday, confirming that the monetary policy rate (MPR), which guides lending rates across banks in Nigeria, will remain unchanged.

This means borrowing costs for banks, businesses, and individuals will not change for now.