At the 302nd Post-Monetary Policy Committee (MPC) briefing in Abuja, Central Bank of Nigeria (CBN) Governor Olayemi Cardoso announced the Bank’s first rate cut in five years, lowering the Monetary Policy Rate (MPR) to 27% following five months of sustained disinflation.
The MPC also raised the Cash Reserve Ratio (CRR) for commercial banks to 45% and introduced a 75% CRR on non-TSA public deposits. Inflation eased to 20.12% in August 2025, down from 21.88% in July, supported by food and core price moderation, foreign exchange stability, and higher oil output.
Governor Cardoso confirmed that 14 banks have fully met recapitalisation requirements, citing stronger buffers, rising external reserves at $43.05 billion, and a current account surplus of $5.28 billion in Q2 2025. He also highlighted the Payment Systems Vision (PSV) 2028, aimed at driving financial inclusion, digitisation, and AI adoption, stating: “With PSV 2028, we’re building a payment system fit for purpose, lifting people out of poverty, driving inclusion, and embracing innovation.”
Marking two years in office, the Governor reaffirmed Nigerians’ trust in the CBN, emphasizing that reforms have stabilised the economy, restored investor confidence, and provided a foundation for sustainable growth. Confidence in the naira, as well as FX and reserves stability, he noted, is here to stay.
For full details, readers are encouraged to consult the Monetary Policy Communique No. 159 on the CBN website: www.cbn.gov.ng.
📩 Reported by: Stone Reporters News
🌍 stonereportersnews.com | info@stonereportersnews.com
📘 Facebook: Stone Reporters | 🐦 X (Twitter): @StoneReportNews
Add comment
Comments