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.
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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