CBN reset interest rate again and my landlord don send reminder message

CBN just cut the benchmark rate by 350 basis points. So borrowing is supposed to be cheaper now, at least on paper. But if you go to your bank today and ask for a loan at 20-something percent, dem go laugh at you.

Banks don already price everything with the old rate. The CBN can reduce rate today, your bank manager is still calculating yesterday's risk. And our inflation is still high, so lowering rate is like pouring water inside basket.

Meanwhile my landlord has already sent his usual September reminder. Nothing about 350 basis points concern him. So who exactly is this rate reset helping?