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🇳🇬 Nigeria · figures checked 2 November 2026

Money in Nigeria today

The Central Bank of Nigeria's interest rate, the latest inflation figure and what the Nigerian naira is worth today, with what they mean for your savings and loans.

Monetary Policy Rate23%▼ −3.50 pts
Inflation, September 202614.63%▼ −0.76 pts
Real interest rate8.37%rate minus inflation
US dollar in NGN1,346.47▲ 0.40 since yesterday
1 NGN in Kenya shillings0.0965today

Monetary Policy Rate decided 22 September 2026. Inflation from the National Bureau of Statistics.

What is happening

The Central Bank of Nigeria cut its rate from 26.5% to 23% in September 2026 as inflation kept falling. Inflation eased to 14.63% in September from 15.39% in August.

What it means for you

  • Savers: interest rates are above inflation, so savings accounts, money market funds and government bills that pay close to the central bank rate can grow faster than prices. Compare what you earn after tax with the 14.63% inflation rate.
  • Borrowers: bank lending rates and variable-rate loans follow the central bank. After the latest cut, loan rates should ease over the coming months.
  • Prices: inflation of 14.63% means something that cost 1,000 a year ago costs about 1,146 now.

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Sources

Exchange rates update automatically through the day. Interest rates and inflation are updated after each central bank decision and monthly release.