{"id":122065,"date":"2025-09-08T07:41:02","date_gmt":"2025-09-08T06:41:02","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=122065"},"modified":"2025-09-08T07:41:02","modified_gmt":"2025-09-08T06:41:02","slug":"cbn-links-interest-rate-decline-to-inflation-drops","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/cbn-links-interest-rate-decline-to-inflation-drops\/","title":{"rendered":"CBN Links Interest Rate Decline to Inflation Drops"},"content":{"rendered":"<div style=\"text-align: justify;\">By \u200eDaniel Adaji<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eThe Central Bank of Nigeria (CBN) has tied the prospect of lower lending rates to a continued decline in inflation, saying the Bank\u2019s policy reforms are already restoring stability to the financial system.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eGovernor Olayemi Cardoso made this clear at the European Business Chamber (Eurocham Nigeria) C-Level Forum in Lagos on Saturday. Speaking during a fireside chat moderated by Andreas Voss, Chief Country Representative of Deutsche Bank Nigeria, he said inflation, though still high, is on a downward trend due to collective efforts.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eIn a statement on Sunday, he explained that as inflation continues to ease, interest rates are expected to follow suit, creating an environment conducive to corporate lending and long-term investment.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200e\u201cThat is the environment in which stronger corporate lending and higher levels of investment will naturally follow,\u201d Cardoso stated.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eThe Governor acknowledged concerns about high lending rates but stressed the link between stable prices and sustainable economic growth.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200e\u201cWe will protect the stability that has been re-established in the financial system with the utmost zeal.<\/div>\n<div style=\"text-align: justify;\">\u200e\u201cOur primary objective is to maintain that stability while simultaneously addressing inflation and ensuring that the financial system is sufficiently resilient to facilitate corporate lending and investment,\u201d he said.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eCardoso further highlighted the ongoing recapitalisation of Nigerian banks, describing the exercise as \u201cmaking good progress.\u201d He noted that the policy, which mandates banks to raise their minimum capital, is designed to strengthen financial institutions, enabling them to withstand shocks and finance economic growth.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eBeyond recapitalisation, he highlighted the importance of technology-driven solutions, deeper financial inclusion, and support for the fintech ecosystem to fight poverty and broaden access to financial services. He also pointed to growing collaboration between the CBN and key fiscal institutions namely, the Ministry of Finance, Ministry of Trade and Industry, and the Budget Office &#8211; as a critical step toward long-term stability.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eOn Nigeria\u2019s position in the global economy, Cardoso warned that domestic reforms could not wait.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200e\u201cThe urgency of addressing our own affairs is underscored by the ongoing geopolitical changes,\u201d he said. He added that Nigeria\u2019s size and strategic location at the gateway to West Africa made it imperative to maintain stability at home.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eEurocham President Yann Gilbert, in his remarks, praised the CBN\u2019s reforms and reaffirmed European businesses\u2019 commitment to Nigeria.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200e\u201cOur members are profoundly dedicated to this nation. We aspire to establish enduring partnerships, generate employment opportunities, and invest,\u201d he said.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eMeanwhile, on the labour front, the Nigeria Labour Congress (NLC) has renewed calls for a review of the national minimum wage, insisting that the current N70,000 is no longer sustainable amid rising inflation.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eActing General Secretary Benson Upah on Sunday said: \u201cThe truth is that N70,000 is not sustainable under the present economic situation. Workers are under immense pressure, and unless the government responds swiftly, the crisis of survival will only worsen.\u201d<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200ePresident Bola Tinubu signed the National Minimum Wage Bill into law in July 2024, raising the wage from N30,000 to N70,000. However, several states have since gone beyond this threshold\u2014Imo State increased its minimum wage to N104,000, Lagos set N85,000 with a plan to reach N100,000 in 2025, and Rivers, Bayelsa, Niger, Enugu, and Akwa Ibom approved N80,000 and above.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>By \u200eDaniel Adaji \u200e \u200eThe Central Bank of Nigeria (CBN) has tied the prospect of lower lending rates to a continued decline in inflation, saying the Bank\u2019s policy reforms are&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":112370,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-122065","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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