Close Menu
Chronicle.ng
    Trending Stories
    US gives stewardship of Trump’s first 100 days in office

    Trump deserves Nobel Peace Prize, Israeli president says

    October 9, 2025
    Somtochukwu Christelle: Police begin probe into murder of Arise TV anchor

    Somtochukwu Christelle: Police arrest 12 suspects over Arise TV anchor’s death

    October 9, 2025
    Nigeria: Heavy lies the head that wears the crown

    Heavy lies the head that wears the crown

    October 9, 2025
    Facebook X (Twitter) Instagram
    Trending
    • Trump deserves Nobel Peace Prize, Israeli president says
    • Somtochukwu Christelle: Police arrest 12 suspects over Arise TV anchor’s death
    • Heavy lies the head that wears the crown
    • 139m Nigerians living in poverty yet to feel impact of economic reforms – World Bank
    • WhatsApp to replace phone numbers with usernames
    • Obi distances himself from unauthorized online endorsements
    • Dangote refinery, engineers fight over fresh redeployment
    • FULL LIST: UI emerges Nigeria’s best university for 2026
    Facebook X (Twitter) Instagram
    Chronicle.ngChronicle.ng
    Subscribe
    Thursday, October 9
    • News
      • Nigeria News
      • World News
      • Headlines News
    • Politics
    • Business
    • Sport
    • Entertainment
    • Contact Us
    Chronicle.ng

    CBN cuts interest rate to 27%, first reduction in five years

    Opalim LiftedBy Opalim LiftedSeptember 24, 2025No Comments2 Mins Read
    Facebook Twitter Telegram WhatsApp
    CBN cuts interest rate to 27%, first reduction in five years
    Central Bank of Nigeria (CBN)
    Facebook Twitter WhatsApp

    The Central Bank of Nigeria (CBN) has cut its benchmark interest rate for the first time in five years, lowering the Monetary Policy Rate (MPR) from 27.5% to 27%.

    CBN Governor Olayemi Cardoso announced the move on Tuesday after the Monetary Policy Committee’s (MPC) 302nd meeting in Abuja, describing the cut as a “unanimous decision” aimed at supporting economic recovery.

    The MPR, which serves as the anchor for all lending rates in the economy, was slashed by 50 basis points, marking the first rate reduction since 2020. The decision follows a steady decline in inflation, which dropped to 20.33% in August 2025 — the lowest in five months.

    Alongside the rate cut, the MPC adjusted the cash reserve ratio (CRR) for commercial banks down from 50% to 45%, retained the liquidity ratio at 30%, and introduced a 75% CRR on non-TSA public sector deposits.

    “The MPC expressed satisfaction with the prevailing macroeconomic stability — disinflation, stronger output growth, stable exchange rate and robust external reserves,” Cardoso told journalists.

    • CBN directs banks to geo-tag payment terminals within 60 days to avoid transaction failure

    He credited the disinflation trend to tighter monetary policy, improved capital inflows, stable forex markets, lower petrol prices and increased crude oil production.

    However, Cardoso warned of “excess liquidity building up in the banking system” due to higher government revenues, noting that tighter interbank market operations were needed to curb risks.

    CBN launches NRBVN to boost financial access for Nigerians in diaspora
    CBN Governor Yemi Cardoso

    The CBN chief stressed the committee would continue data-driven interventions to maintain economic stability, with the next MPC meeting scheduled for November 24–25, 2025.

    Share. Facebook Twitter Telegram WhatsApp

    Keep Reading

    US gives stewardship of Trump’s first 100 days in office

    Trump deserves Nobel Peace Prize, Israeli president says

    Somtochukwu Christelle: Police begin probe into murder of Arise TV anchor

    Somtochukwu Christelle: Police arrest 12 suspects over Arise TV anchor’s death

    Nigeria: Heavy lies the head that wears the crown

    Heavy lies the head that wears the crown

    139m Nigerians living in poverty yet to feel impact of economic reforms – World Bank

    139m Nigerians living in poverty yet to feel impact of economic reforms – World Bank

    WhatsApp to replace phone numbers with usernames

    WhatsApp to replace phone numbers with usernames

    Lagos LP chair tells Obi to 'pause and reflect' amid declining political clout

    Obi distances himself from unauthorized online endorsements

    Subscribe to News

    Be the first to get the latest news updates from ChronicleNG about world, sports, politics etc

    US gives stewardship of Trump’s first 100 days in office

    Trump deserves Nobel Peace Prize, Israeli president says

    October 9, 2025
    Somtochukwu Christelle: Police begin probe into murder of Arise TV anchor

    Somtochukwu Christelle: Police arrest 12 suspects over Arise TV anchor’s death

    October 9, 2025
    Nigeria: Heavy lies the head that wears the crown

    Heavy lies the head that wears the crown

    October 9, 2025
    139m Nigerians living in poverty yet to feel impact of economic reforms – World Bank

    139m Nigerians living in poverty yet to feel impact of economic reforms – World Bank

    October 9, 2025
    WhatsApp to replace phone numbers with usernames

    WhatsApp to replace phone numbers with usernames

    October 9, 2025
    Facebook X (Twitter) Instagram
    • Politics
    • News
    • Sports
    • Business
    • About Us
    © 2025 ChronicleNG

    Type above and press Enter to search. Press Esc to cancel.

    Go to mobile version