The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has reduced the Monetary Policy Rate (MPR) by 50 basis points to 26.5 per cent.
CBN Governor Olayemi Cardoso disclosed the decision at the conclusion of the committee’s 304th meeting, held on February 23 and 24, 2026. He noted that 11 members were present to assess global and domestic economic developments and the broader outlook.
Cardoso explained that while the MPR was lowered, the MPC maintained the standing facilities corridor at plus 50 and minus 450 basis points around the MPR. The Cash Reserve Ratio (CRR) was retained at 45 per cent for deposit money banks, 16 per cent for merchant banks, and 75 per cent for non-TSA public sector deposits.
The adjustment reflects a cautious shift in monetary policy as the apex bank aims to balance price stability with economic growth in response to changing economic conditions.
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