Lagos, Sept 22, 2026 (AFP) - Nigeria makes largest interest rate cut in nearly 20 years

NAMPA / AFP

2026-09-22

Nigeria's central bank said on Tuesday it had slashed its key interest rate by more than 3.5 percentage points -- the largest cut in nearly two decades. The move is designed to shore up the monetary policy of President Bola Tinubu, who is seeking a second term in January. Since coming to power in 2023, Tinubu has scrapped a costly fuel subsidy that had kept petrol prices artificially low for decades, ended support for the country's currency, the......

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