 has lowered its benchmark interest rate by 50 basis points, bringing it down to 26.50 percent from the previous 27 percent.){kind=link}
The Central Bank of Nigeria (CBN) has lowered its benchmark interest rate by 50 basis points, bringing it down to 26.50 percent from the previous 27 percent.
The CBN Governor, Olayemi Cardoso, shared the news during a press briefing on Tuesday, following the conclusion of the bank’s 304th Monetary Policy Committee (MPC) meeting.
Cardoso pointed out that the move toward a slightly lower rate was met with a unanimous consensus among all participating members of the committee.
While the interest rate saw a reduction, the governor explained that the committee chose to keep the Cash Reserve Ratio (CRR) steady at 45 percent for commercial banks and 16 percent for merchant banks, while also maintaining the 75 percent CRR on non-TSA public sector deposits.
Cardoso further noted that the liquidity ratio remains unchanged at 30 percent, though the standing facilities corridor has been fine-tuned to +50/-450 basis points around the main policy rate.
“The committee decided to reduce the monetary policy rate by 50 basis points to 26.50 percent,” he said.
This policy adjustment marks a departure from November 2025, when the MPC decided to hold the rate at 27.00 percent. The last time the apex bank moved to ease interest rates was in September of last year, when it shifted from 27 percent to 27.50 percent.