The Central Bank of Nigeria (CBN) has reduced the monetary policy rate (interest rate) to 27%. This marked the first time the interest rate had dropped since the COVID-19 era in 2020. Aside from the hold in interest rate in the past three announcements this year, the interest was protected to either remain the same or drop due to the performance of the inflation rate. What does the interest rate mean for Nigerians and fintechsThe drop in interest rate to 27% means that the burden of borrowing has been eased. For Fintechs, the drop in interest rate to 27% provides a mixed turn.