Abuja, Sept. 22, 2026 – The Central Bank of Nigeria (CBN) has reduced its Monetary Policy Rate (MPR) to 23% from 26.5%.
The apex banks took the decision at the meeting of its Monetary Policy Committee (MPC) in Abuja on Tuesday.
Olayemi Cardoso, the CBN governor, who announced the decisions at a press briefing after the meeting, said the Committee had deliberately retained the MPR at 26.5% since its July meeting to fight the inflationary pressure..
He said the Committee had also adjusted the asymmetric corridor around the MPR to +50/-300bps from +50/-450bps.
Cardoso said the Cash Reserve Ratio (CRR) for Deposit Money Banks and Merchant Banks was retained at 45.00% and 16.00%, respectively, while the Committee also retained the 75.00% CRR on Non-TSA public sector deposits.
He said the Committee also retained the Liquidity Ratio (LR) at 30.00%.
The apex bank governor commended the Committee for its decisions in the last three years which had assisted to stablise the country’s macroeconomic environment.