BREAKING: CBN retains interest rate at 27.5%, says eight banks meet recapitalisation targets

• Cardoso says 8 banks have met CBN’s recapitalisation benchmark, with others working hard to meet the requirement soon.
• Central Bank retains liquidity ratio at 30 per cent to help stabilise Nigeria’s macroeconomic environment and control inflation.

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has retained the Monetary Policy Rate at 27.5 per cent.

The Governor of the Central Bank, Olayemi Cardoso, announced this during a press briefing after the 301st MPC meeting held in Abuja on Tuesday.

The decision is the third time the regulator is retaining the MPR in 2025.

Cardoso said the committee voted to keep the Monetary Policy Rate unchanged at 27.5 per cent.

He said the Cash Reserve Ratio for deposit money banks was retained at 50 per cent, while that of merchant banks remained at 16 per cent.

“Also Liquidity Ratio has been maintained at 30 per cent,” Cardoso said.

He explained that the decision was aimed at sustaining ongoing efforts to control inflation and stabilise prices by addressing emerging monetary pressures.

The apex bank governor also disclosed that eight banks had already met the recapitalisation requirements of the CBN.

He added that other banks were working hard to meet the benchmark before the set deadline.