The Central Bank of Nigeria (CBN) has opted to keep the Monetary Policy Rate unchanged at 27.5%, as announced by Governor Olayemi Cardoso after the latest Monetary Policy Committee (MPC) meeting in Abuja. The cash reserve ratio for Deposit Money Banks will continue at 50%, while Merchant Banks will maintain a rate of 16%. The liquidity ratio has also been preserved at 30%. This decision is aimed at controlling inflation and addressing monetary pressures. Cardoso noted that eight banks have met the CBN’s recapitalisation requirements, with others striving to comply.
