Regulatory Alerts2026-05-13 | CBN/MPC/COM/161/304Personal Statements of MPC Members for The February 2026 Meeting and Communique
The Central Bank of Nigeria's Monetary Policy Committee has reduced the Monetary Policy Rate (MPR) by 50 basis points to 26.5 percent following an eleventh consecutive month of headline inflation decline. The Committee retained the current Standing Facilities corridor and Cash Reserve Requirements for all banking categories to maintain liquidity discipline while supporting economic growth. This decision reflects a cautious easing stance aimed at consolidating gains in price stability and external reserves without abandoning a restrictive policy framework.
Monetary Policy Rate Lowered by 50 Basis Points
Date: Tuesday, 24th February 2026 Ref: CBN/MPC/COM/161/304 Attention: News Editors/Gentlemen of the Press
MONETARY POLICY RATE LOWERED BY 50 BASIS POINTS
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 304th meeting on February 23 and 24, 2026. Komitee ya Manufofin Kudi (MPC) na Babban Bankin Najeriya (CBN) ta gudanar da taro na 304 a ranakun 23 da 24 ga Fabrairu, 2026. The Committee reviewed key developments in the global and domestic economies, as well as the outlook. Kwamitin ya yi nazari kan muhimman abubuwan da suka shafi tattalin arzikin duniya da na cikin gida, tare da hangen nesa. Eleven (11) members of the Committee were in attendance. Gungun mambobi goma sha daya (11) na kwamitin sun halarci taron.
Decisions of the MPC The Committee decided as follows: Kwamitin ya yanke shawarar kamar haka:
- Reduce the Monetary Policy Rate by 50 basis points to 26.5 per cent. A rage kudin ruwa na manufofin kudi da maki 50 zuwa kashi 26.5.
- Retain the Standing Facilities Corridor around the MPR at +50/-450 basis points. A rike kofar bayar da lamuni a kusa da MPR a matakin +50/-450 maki.
- Retain the Cash Reserve Requirement (CRR) for Deposit Money Banks at 45.00 per cent, Merchant Banks at 16.00 per cent, and 75.00 per cent for non-TSA public sector deposits. A rike bukatar ajiyar kudi (CRR) ga bankunan ciniki a kashi 45.00, bankunan kasuwanci a kashi 16.00, da kashi 75.00 don ajiyar kudaden gwamnati da ba na TSA ba.
The Committee’s decision was premised on a balanced evaluation of risks to the outlook, which suggests that the ongoing disinflation trajectory would continue, largely supported by the lagged transmission of previous monetary tightening, sustained exchange rate stability, and enhanced food supply. Shawarar kwamitin ta dogara ne akan daidaitaccen nazari kan hadarin da ke tattare da hangen nesa, wanda ke nuna cewa ci gaba da raguwar hauhawar farashin kayayyaki zai ci gaba, wanda mafi akasari yake samun goyon baya daga tasirin matakan da aka dauka a baya na rage yawan kudi, kwanciyar hankali na musayar kudi, da kuma inganta wadataccen abinci.