The Central Bank of Nigeria (CBN) has reduced the Monetary Policy Rate (MPR) by 50 basis points to 26.50 percent from 27 percent.
CBN Governor Olayemi Cardoso announced the decision at a press briefing following the bank’s 304th Monetary Policy Committee (MPC) meeting on Tuesday.
According to Cardoso, the rate cut was unanimously agreed upon by members of the MPC.
“The committee decided to reduce the monetary policy rate by 50 basis points to 26.50 percent,” he said.
Other Key Decisions
- Cash Reserve Ratio (CRR) retained at 45 percent for commercial banks
- CRR maintained at 16 percent for merchant banks
- 75 percent CRR on non-TSA public sector deposits retained
- Liquidity ratio held at 30 percent
- Standing facilities corridor adjusted to +50/-450 basis points around the MPR
Recall that in November 2025, the MPC retained the MPR at 27.00 percent. The last rate adjustment prior to this decision was in September last year.
Meanwhile, Nigeria’s inflation rate eased to 15.10 percent in January from 15.15 percent, according to data from the National Bureau of Statistics.
