ASBON Welcomes CBN's Rate Cut to Support SMEs
The Association of Small Business Owners of Nigeria (ASBON) has expressed approval of the Central Bank of Nigeria's (CBN) decision to reduce the Monetary Policy Rate (MPR). ASBON described this reduction as a long-awaited development that has the potential to ease financial pressures on small and medium-sized enterprises (SMEs).
The association believes that lower lending rates will contribute to cheaper business costs, thereby supporting the growth and sustainability of SMEs in Nigeria. This move by the CBN is seen as a positive step towards fostering a more conducive business environment for small business owners.
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