The Central Bank of Nigeria has reduced its benchmark interest rate by 50 basis points to 26.50 per cent, signalling a shift in its monetary stance amid easing inflationary pressures.
Governor Olayemi Cardoso announced the decision on Tuesday at a press briefing following the 304th meeting of the Monetary Policy Committee (MPC), stating that members unanimously agreed to lower the Monetary Policy Rate (MPR) from 27 per cent.
The committee retained the Cash Reserve Ratio (CRR) at 45 per cent for commercial banks and 16 per cent for merchant banks, while the 75 per cent CRR on non-Treasury Single Account (non-TSA) public sector deposits was also maintained.
Similarly, the liquidity ratio was left unchanged at 30 per cent. However, the standing facilities corridor was adjusted to +50/-450 basis points around the MPR.
“The committee decided to reduce the monetary policy rate by 50 basis points to 26.50 per cent,” Cardoso said.
At its November 2025 meeting, the MPC had held the rate at 27 per cent. The latest cut marks the first easing move since last year, reflecting the apex bank’s assessment of moderating price pressures.
Data from the Nigeria Bureau of Statistics show that inflation slowed to 15.10 per cent in January, reinforcing expectations of a gradual monetary recalibration.
