CBN cuts interest rate to 26.50% from 27%

The Central Bank of Nigeria (CBN) has reduced the monetary policy rate (MPR) by 50 basis points to 26.50% from 27%, effective immediately. Governor Olayemi Cardoso announced the unanimous decision by the MPC during a Tuesday press briefing. The Cash Reserve Ratio (CRR) remains at 45% for commercial banks and 16% for merchant banks, while the 75% CRR on non-TSA public sector deposits is unchanged. Liquidity ratio and standing facilities corridor were also maintained. This marks the second rate cut in six months, following September 2025's reduction from 27.50% to 27%. The move aims to stimulate economic growth amid persistent inflation pressures.

SOURCE: https://dailypost.ng/2026/02/24/cbn-cuts-interest-rate-to-26-50/