The Central Bank of Nigeria (CBN) has lowered its benchmark interest rate from 27.5 percent in July to 27 percent, marking a 50-basis-point reduction.
According to a Bloomberg survey of five economists, the median projection had anticipated the cut, reflecting easing inflationary pressures and improved clarity in global trade outlook.
Michael Jozwiak, an analyst at Ebury, noted that the decision could be further supported by waning inflation risks internationally.
CBN Governor Olayemi Cardoso, who briefed journalists after the Monetary Policy Committee (MPC) meeting, said the adjustment was informed by five consecutive months of disinflation, projections of continued decline in inflation through the rest of 2025, and the need to sustain economic stability.
The resolution followed deliberations by all 12 members of the MPC during its 302nd meeting held on September 22–23, 2025.
In addition to the rate cut, the committee introduced a 75 percent cash reserve requirement on non-TSA public sector deposits to strengthen liquidity management. However, the liquidity ratio was left unchanged at 30 percent
