Rising from the July 2026 Monetary Policy Committee (MPC), the Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 26.5 percent.
The CBN Governor, Olayemi Cardoso, announced the decision on Tuesday at the end of the committee’s 306th meeting in Abuja, adding that the decision is to consolidate on the gains on stabilising inflation.
Cardoso said, “The Committee decided as follows: retain the monetary policy rate at 26.5 per cent.”
The move follows an earlier hold at the previous MPC briefing, and a 50-basis-point cut announced in February 2026.
The MPC also adjusted the asymmetric facilities corridor around the MPR to +50/-450 basis points—a move aimed at discouraging banks from keeping idle funds with the CBN and encouraging increased lending into the economy.
Furthermore, the committee maintained the Cash Reserve Ratio (CRR) for commercial banks at 45 per cent, retained the rate for merchant banks at 16 per cent, and kept the CRR on non-TSA public-sector deposits at 75 per cent for liquidity management considerations.
