The Central Bank of Nigeria’s Monetary Policy Committee has slashed interest rate from 27.5 percent to 27 percent.
The decision to slash 50 basis point from the previous rate was reached by 12 members of the Committee at its 302nd meeting held on September 22nd and 23rd, 2025.
However, the asymmetric corridor around the MPR was retained at +260 and -250 basis points, providing a framework for liquidity management and signaling the CBN’s cautious approach toward market volatility.
CBN Governor, Dr. Olayemi Cardoso, who briefed journalists after the meeting, said the committee’s decision to cut rates was after reviewing key developments in the global and domestic economies, including the outlook.
It also reduced the cash reserve requirement to 45 percent for commercial banks and retained that of merchant banks at 16 percent.
The Committee has also introduced a 75 percent cash reserve requirement on non-TSA public sector deposits.
Meanwhile, the liquidity ratio has been left unchanged at 30 percent
Details shortly…
