CBN Cuts MPR to 23% in Biggest Rate Reset as Nigeria Bets on Cheaper Credit
The Central Bank of Nigeria has cut its Monetary Policy Rate from 26.5% to 23%, delivering a 350-basis-point reduction that marks a major shift in the country’s interest-rate environment. CBN Governor Olayemi Cardoso announced the decision on September 22, 2026, after the 307th meeting of the Monetary Policy Committee in Abuja. The previous rate of…