BREAKING: CBN Governor Olayemi Cardoso Announces First MPC Decision of 2026

CBN Governor Olayemi Cardoso has announced first MPC decision of 2026.

 

NewsOnline Nigeria reports that the Central Bank of Nigeria has reduced the Monetary Policy Rate (MPR) by 50 basis points to 26.50 percent from 27 percent.

 

The CBN Governor, Olayemi Cardoso, announced the decision on Tuesday while addressing journalists after the conclusion of the Bank’s 304th Monetary Policy Committee (MPC) meeting.

 

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According to Cardoso, the rate cut was unanimously agreed upon by all members of the MPC.

 

“The committee decided to reduce the monetary policy rate by 50 basis points to 26.50 percent,” he stated.

 

Despite the adjustment to the benchmark rate, the committee retained other key monetary parameters. The Cash Reserve Ratio (CRR) was left unchanged at 45 percent for commercial banks and 16 percent for merchant banks. The 75 percent CRR on non-Treasury Single Account (TSA) public sector deposits was also maintained.

 

In addition, the liquidity ratio was retained at 30 percent, while the standing facilities corridor was adjusted to +50/-450 basis points around the MPR.

 

The latest move marks the first rate cut since September last year. In November 2025, the MPC had maintained the MPR at 27 percent.

 

Meanwhile, data from the National Bureau of Statistics showed that Nigeria’s inflation rate eased to 15.10 percent in January from 15.15 percent recorded previously.

 

The decision is expected to signal a cautious shift in monetary policy as the apex bank balances inflation control with economic growth considerations.