The Central Bank of Nigeria (CBN) announced a reset of the Monetary Policy Rate (MPR) to 23 per cent from 26.5 per cent at the 307th Monetary Policy Committee (MPC) meeting held on September 21 and 22, 2026. The CBN also recalibrated the Standing Facilities Corridor to +50/-300 basis points around the MPR, while retaining the Cash Reserve Requirement at 45 per cent for Deposit Money Banks, 16 per cent for Merchant Banks, and 75 per cent for non-TSA public sector deposits. CBN Governor Olayemi Cardoso described the move as an operational realignment rather than a shift in monetary policy stance. Experts and industry players have welcomed the decision as a step in the right direction.
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