Central Bank of Nigeria Holds Monetary Policy Rate at 27.50% for Second Consecutive Meeting

The Central Bank of Nigeria's Monetary Policy Committee held the benchmark Monetary Policy Rate at 27.50% at its meeting concluded on 20 May 2025, the second consecutive meeting at which the rate has been left unchanged. All members voted to retain the MPR, the cash reserve ratio at 50% and the liquidity ratio at 30%.

The Committee noted that external reserves had risen to USD 38.90 billion as of 16 May 2025, from USD 37.82 billion in March, and pointed to the narrowing gap between official and bureau de change exchange rates.