The Central Bank of Nigeria (CBN) has kept the Monetary Policy Rate (MPR) unchanged at 27%, while adjusting the standing facility corridor to +50/-450 basis points. Cash Reserve Requirements remain at 45% for deposit money banks, 16% for merchant banks, and 75% for non-TSA public sector deposits, with the Liquidity Ratio steady at 30%.
CBN Governor Olayemi Cardoso, speaking after the final Monetary Policy Committee (MPC) meeting of 2025, said the decision reflects efforts to sustain disinflation, noting October marked the seventh consecutive month of declining inflation. He attributed the trend to tighter monetary policy, stable exchange rates, improved food supply, and steady fuel prices.
Nigeria’s external reserves rose by 9.2% to $46.7 billion in mid-November, enough to cover over 10 months of imports. Cardoso stressed that despite progress, inflation remains high, requiring continued vigilance. He added that the recapitalisation programme is advancing, with 16 banks already meeting new capital requirements.
The MPC reaffirmed its evidence-based approach, projecting further disinflation in 2026, supported by stable FX markets and seasonal food harvests. Cardoso assured Nigerians that reforms will soon translate into tangible benefits, saying stability is laying the foundation for sustainable growth.
