LCCI Demands Faster Transmission of CBN Rate Lowers Benchmark Rate to to Businesses

LCCI demands faster transmission of CBN rate cut to businesses.

Chinyere Almona said the immediate focus should be on ensuring that the reduction in the benchmark rate produces tangible improvements in financing conditions for productive businesses.

LCCI described the reduction as a positive development capable of easing financing constraints, encouraging private-sector investment and supporting economic activity, particularly among micro, small and medium-sized enterprises.

LCCI called on the CBN and financial institutions to closely track how banks and other lenders respond to the easing of monetary conditions.