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

AI Summary

Nigerian banks have not lowered lending rates nearly a week after the Central Bank of Nigeria cut its Monetary Policy Rate by 350 basis points. The delay raises concerns that borrowers may not quickly benefit from the policy change.

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 from the apex bank's latest policy adjustment. The post Banks yet to lower lending rates nearly a week after CBN’s MPR cut appeared first on Nairametrics.