- Odibo Victory
The monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) has again retained the monetary policy rate (MPR) at 26.5 percent.
This was disclosed by the CBN governor, Olayemi Cardoso, at press conference on Tuesday, after the panel’s 306th meeting in Abuja.
Cardoso, who doubles as the Chairman of the committee, said that 11 members present at the meeting unanimously agreed on the policy decisions.
He announced the MPC’s decision to retain the interest rate, marking the second time the committee left the rate unchanged in 2026.
Also retained is the Standing Facilities Corridor which remains at +50 / -450 basis points around the MPR.
In the same vein, the Cash Reserve Ratio (CRR) was retained at 45% for Deposit Money Banks, 16% for Merchant Banks, and 75% for non-TSA public sector deposits.
According to reports, the committee had earlier retained all the policy rates in its 305th meeting in May, after marginally reducing the MPR by 50 basis points in February.
This lowered the benchmark interest rate from 27.00 per cent to 26.50 per cent.