Regulatory Alerts2026-07-03 | MPD/DIR/INT/MPC/008/117Personal Statements of Members for the 305th Meeting of the Monetary Policy Committee (MPC)
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) retained the Monetary Policy Rate (MPR) at 26.5 percent, the Standing Facilities Corridor at +50/-450 basis points, and the Cash Reserve Requirement (CRR) at 45.00 percent for Deposit Money Banks, 16.00 percent for Merchant Banks, and 75.00 percent for non-TSA public sector deposits. These decisions, made during the 305th meeting on May 19-20, 2026, were based on a comprehensive risk assessment, acknowledging recent marginal inflation increases as transitory and externally driven by factors like the Middle East crisis. The MPC expressed confidence in the economy's resilience, citing strong external reserves and a successfully recapitalized banking system as key buffers supporting disinflation and macroeconomic stability.