The Central Bank of Nigeria (CBN) has cut the Monetary Policy Rate (MPR) to 23 per cent from 26.50 per cent.
CBN Governor Olayemi Cardoso announced the development at a news conference in Abuja on Tuesday, September 22, 2026.
Cardoso said the Monetary Policy Committee (MPC) of the apex bank reset the MPR to 23 per cent its 307th meeting.
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He added: “Standing Facilities Corridor: Recalibrated at +50 / -300 basis points around the MPR.
“Cash Reserve Requirement(CRR): Retained at 45% for Deposit Money Banks, 16% for Merchant Banks, and 75% for non-TSA public sector deposits.”
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