BY NKECHI NAECHE-ESEZOBOR—–Nigeria’s apex bank, the Central Bank of Nigeria retained the Monetary Policy Rate (MPR), the country’s benchmark interest rate, at 26.5 per cent.
This was disclosed bat the end of the 306th meeting of the Monetary Policy Committee (MPC), held in Abuja on July 20 and 21, 2026.
Addressing journalists after the meeting, CBN Governor and Chairman of the MPC, Mr. Olayemi Cardoso, said the committee decided to leave all key monetary policy parameters unchanged after carefully reviewing developments in both the domestic and global economy.
The committee also retain the Standing Facilities Corridor around the MPR at +50 / -450 basis points.
It also retained the Cash Reserve Ratio (CRR) for Deposit Money Banks at 45% and 16% for merchant banks and 75% for non-TSA public sector deposits.
