The Monetary Policy Committee of the Central Bank of Nigeria has reduced the country’s interest rate to 27.00 per cent for the first time in 2025. The Governor of CBN, Olayemi Cardoso, disclosed this during a press briefing after the 302nd MPC meeting in Abuja. “The Committee decided as follows: (1) reduce the monetary policy […]
CBN Governor Yemi Cardoso announced the decision in Abuja following the 300th Monetary Policy Committee (MPC) meeting. Mr Cardoso said that all 12 MPC members voted unanimously to hold key monetary parameters. The committee retained the cash reserve ratio at 50 per cent for deposit money banks and 16 per cent for merchant banks. The […]