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USD/NGN 1,327.68 ▾0.1%GBP/NGN 1,753.58 ▾0.5%USD/NGN black market ₦1,384GBP/NGN black market ₦1,876EUR/NGN 1,496.30 ▾0.7%JPY/NGN 8.41 ▾0.5%CAD/NGN 932.85 ▾0.2%

Banks yet to lower lending rates nearly a week after CBN’s MPR cut

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…

Aggregated · originally by Nairametrics
28 Sept 2026, 10:30 WAT · 3 min read
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Banks yet to lower lending rates nearly a week after CBN’s MPR cut

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…