November 26, 2024/Cordros Update

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) at today’s policy meeting, voted to:

1. Raise the MPR by 25bps to 27.50% (Previously: 27.25%)
2. Retain the asymmetric corridor at +500bps/-100bps
3. Retain the CRR for Deposit Money Banks at 50.0% and Merchant Banks at 16.0% 
4. Retain liquidity rate at 30.0%