The apex bank reached the decision during its latest MPC meeting — the 299th.

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained the country’s interest rate at 27.50 per cent for the second time in 2025.

The monetary policy rate has remained unchanged since November 2024.

The Governor of the CBN, Olayemi Cardoso, disclosed this during a press briefing on Tuesday after the 300th MPC meeting in Abuja.

“The Committee was unanimous in its agreement to hold all parameters,” he said.

In February, the CBN retained the Monetary Policy Rate at 27.50%.

The apex bank reached the decision during its latest MPC meeting — the 299th.

“The Monetary Policy Committee (MPC) voted unanimously to retain the Monetary Policy Rate (MPR) at 27.50%; retain the Cash Reserve Ratio (CRR) at 50% for Deposit Money Banks and 16% for Merchant Banks,” a statement by the apex bank reads.

“The Committee retains the Liquidity Ratio (LR) at 30% and the Asymmetric Corridor at +500/-100 basis points around the MPR,” the statement further reads.

It would be recalled that the Central Bank of Nigeria increased the Monetary Policy Rate to 27.50% in November 2024 from the earlier 27.25% at which it was pegged.

This increase in November made borrowing costlier.

The CBN also aims to use the monetary policy rate to control inflation. It is also aimed at ensuring that the naira becomes stronger.

According to a post on the official X account of the CBN, the bank voted to increase the Monetary Policy Rate by 25 basis points in November.

“The Monetary Policy Committee (MPC) voted unanimously to raise the Monetary Policy Rate (MPR) by 25 basis points from 27.25% to 27.50%,” the statement read.

The CBN also voted to “retain Cash Reserve Ratio (CRR) at 50% for Deposit Money Banks and 16% for Merchant Banks.”

“The Committee also retains the Liquidity Ratio (LR) at 30% and Asymmetric Corridor at +500/-100 basis points around the MPR,” the apex bank posted.