Details Emerge As CBN Raises Interest Rate By 50 Basis Points to 27.25%

The New Diplomat
Writer

Ad

2027: Reaction as Kachikwu Says Jonathan Has Offered Obi Key Role to Quit Presidential Race

By Abiola Olawale Dumebi Kachikwu, the 2023 presidential candidate of the African Democratic Congress (ADC), has claimed that former President Goodluck Jonathan is allegedly attempting to sway Peter Obi, the Labour Party’s 2023 presidential candidate, to abandon his 2027 presidential ambition. According to Kachikwu, Jonathan has allegedly dangled the position of Coordinating Minister of the…

Tears as Ex-minister, Audu Ogbeh, Dies at 78

By Abiola Olawale A former Minister of Agriculture and Rural Development, Chief Audu Ogbeh, is dead. Ogbeh, who was also a former National Chairman of the Peoples Democratic Party (PDP), was said to have passed away peacefully on Saturday, August 9, 2025, at the age of 78. This was contained in a statement released on…

How Obasanjo Got Angry at Me Over Diesel Deregulation – Otedola Opens Up

By Abiola Olawale Nigerian billionaire businessman, Mr Femi Otedola has shared a dramatic encounter with former President Olusegun Obasanjo over the 2004 diesel deregulation policy. This was detailed in his upcoming memoir, Making It Big: Lessons from a Life in Business, set for release on August 18, 2025, by FO Books. Otedola, then chairman of…

Ad

By Abiola Olawale

The Central Bank of Nigeria(CBN) has again announced an increment of interest rates by 50 basis points to 27.25%.

This was announced by the Monetary Policy Committee (MPC) on Tuesday.

The Governor of the CBN, Mr. Yemi Cardoso, who doubles as the Chairman of the MPC, disclosed this at the end of the MPC meeting held in Abuja.

Cardoso also announced that during the MPC meeting, the apex bank further increased the Cash Reserve Ratio (CRR) of commercial banks by 500 basis points from 45% to 50%, while that of merchant banks was increased by 200 basis points to 16%.

Furthermore, the MPC raised the asymmetric corridor around the MPR to +500 and –100 basis points while the liquidity ratio was retained at 30%.

The Governor of the CBN noted that the decision to further tighten the monetary policy was a unanimous one by members of the Monetary Policy Committee (MPC).

The New Diplomat reports that this is the latest increment under the tenure of Cardoso as the CBN Governor.

The recent 50 basis points hike in MPR will likely result in a cumulative 850 basis points increase in MPR under the management of Cardoso.

Ad

X whatsapp