The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) which is the benchmark interest rate at 27.50%
The announcement was made by the CBN Governor, Olayemi Cardoso, after the committee’s meeting held on May 19 and 20.
The committee had at its 299th meeting held on 19th and 20th February 2025, decided to retain the MPR at 27.50 per cent, and retain the asymmetric corridor around the MPR at +500/-100 basis points.
It also retained the Cash Reserve Ratio of Deposit Money Banks at 50.00 per cent and Merchant Banks at 16 per cent, while the Liquidity Ratio remained at 30.00 per cent.