The Central Bank of Nigeria (CBN) has reduced the Monetary Policy Rate (MPR) by 50 basis points, bringing it down to 26.50% from 27%.
The announcement was made by CBN Governor Olayemi Cardoso after the 304th Monetary Policy Committee (MPC) meeting on Tuesday. Cardoso said the decision was unanimously agreed upon by all MPC members.
The committee also retained the Cash Reserve Ratio (CRR) at 45% for commercial banks and 16% for merchant banks, while the 75% CRR on non-TSA public sector deposits was maintained. The liquidity ratio remains at 30%, and the standing facilities corridor was adjusted to +50/-450 basis points around the MPR.
“This committee decided to reduce the MPR by 50 basis points to 26.50%,” Cardoso stated.
For context, the last MPR cut was in September 2025, while the November 2025 MPC retained it at 27%. According to the National Bureau of Statistics, the country’s interest rate fell slightly in January 2026 to 15.10% from 15.15%.
