The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has retained the Monetary Policy Rate (MPR) at 26.5% following its 305th meeting held on May 19 and 20.
Speaking after the meeting, CBN Governor said the committee decided to maintain all key monetary policy parameters, reflecting a cautious approach toward inflation control and macroeconomic stability.
The MPC also retained:
• Cash Reserve Ratio (CRR) for Deposit Money Banks at 45%
• Merchant Banks’ CRR at 16%
• Liquidity Ratio at 30%
• Standing Facilities Corridor at +50/-450 basis points around the MPR
The decision comes amid renewed inflationary pressure after Nigeria’s headline inflation rose slightly from 15.38% in March to 15.69% in April 2026, according to the.
The committee noted that rising inflation remains a key concern, despite earlier signs of moderation, and stressed the need to sustain exchange-rate stability and overall economic recovery.
The move signals that the is prioritising inflation management while closely monitoring the impact of high borrowing costs on businesses and economic growth.
