Breaking: CBN Slashes Interest Rate Following MPC Meeting – What It Means For Nigerians

The Central Bank of Nigeria (CBN) on Tuesday, February 24, lowered the Monetary Policy Rate (MPR) by 50 basis points, bringing it down to 26.50% from 27%.....KINDLY READ THE FULL STORY HERE▶

The announcement was made by CBN Governor Olayemi Cardoso at a press briefing following the 304th meeting of the Monetary Policy Committee (MPC).

Governor Cardoso stated that the decision to reduce the benchmark interest rate was unanimously approved by all committee members.

While the MPR was eased, other key monetary policy parameters were left unchanged. The Cash Reserve Ratio (CRR) remains at 45% for commercial banks and 16% for merchant banks, with the 75% CRR on non-Treasury Single Account public sector deposits also maintained.

The committee retained the liquidity ratio at 30%, while the standing facilities corridor was set at +50/-450 basis points around the MPR.

“The committee decided to reduce the monetary policy rate by 50 basis points to 26.50%,” Cardoso confirmed.

This marks the first interest rate cut in several months. At the MPC’s November 2025 meeting, the MPR was held at 27%, maintaining a tight monetary stance amid inflationary pressures. The last reduction in the rate occurred in September 2025.

Meanwhile, data from the National Bureau of Statistics showed that Nigeria’s inflation rate slightly eased in January to 15.10%, down from 15.15% previously.