CBN Announces New Interest Rate

The Central Bank of Nigeria, CBN, has retained the Monetary Policy Rate, MPR or benchmark interest at 27.50 percent.

This is the second time the apex bank has retained the interest rate in the country at this rate this year following a similar decision in May.

The CBN governor Olayemi Cardoso, made the announcement on Tuesday during the 301st  Monetary Policy Committee, MPC, meeting in Abuja, the nation’s capital.

The MPC chaired by the CBN Governor is responsible for formulating monetary and credit policy to achieve price stability and support the Federal Government’s economic policy.

According to Cardoso, the committee decided to retain the MPR at 27.50 percent in line with the current economic realities in the country.

Also, the asymmetric corridor around the MPR was retained at +500/-100 basis points; the Cash Reserve Ratio, CRR at 50 percent for Deposit Money Banks and 16 percent for Merchant Banks; while the Liquidity Ratio, LR, remains unchanged at 30 percent

Recall that the CBN had during its May 2025 meeting retained the benchmark interest rate at 27.50 against expectations by key stakeholders in the economic sector.