The Central Bank of Nigeria has retained the country’s Monetary Policy Rate (MPR) at 26.50 percent.
CBN Governor Olayemi Cardoso disclosed this during a press briefing after the apex bank’s 305th Monetary Policy Committee (MPC) meeting held in Abuja.
According to Cardoso, the decision was unanimously adopted by all MPC members.
He explained that the committee also retained the Cash Reserve Ratio (CRR) at 45 percent for commercial banks and 16 percent for merchant banks. The 75 percent CRR on non-TSA public sector deposits was equally maintained.
The governor further stated that the liquidity ratio remained at 30 percent, while the standing facilities corridor was adjusted to +50/-450 basis points around the MPR.
The latest decision comes despite recent findings from the CBN’s survey showing that many Nigerians favoured a reduction in interest rates.
Nigeria’s inflation rate had increased to 15.69 percent in April from 15.38 percent recorded in March.
Recall that the MPC reduced the interest rate by 50 basis points during its 304th meeting in February 2026.
