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The Central Bank of Nigeria (CBN) has lowered the Monetary Policy Rate (MPR) by 50 basis points, bringing it down from 27.5 percent to 27 percent.
The Governor of the Bank, Mr Olayemi Cardoso, made this announcement on Tuesday during a press briefing held at the conclusion of the Monetary Policy Committee (MPC) meeting in Abuja.
According to him, the Committee resolved to: reduce the MPR by 50 basis points to 27%; adjust the standing facilities corridor around the MPR to +250/-250 basis points; raise the Cash Reserve Requirement (CRR) for commercial banks to 45%, while maintaining that of merchant banks at 16%; introduce a 75% CRR on non-TSA public sector deposits; and retain the Liquidity Ratio at 30%.
Mr Cardoso explained that the decision to reduce the policy rate was motivated by sustained disinflation over the previous five months, expected further decreases in inflation throughout the rest of 2025, and the need to reinforce economic recovery efforts.
He added that the adjustment of the standing facilities corridor was intended to enhance the efficiency of the interbank market and strengthen the transmission of monetary policy.
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