Nigerian banks accumulated more liquidity in Q1 2026, but lending to businesses saw a major decline despite the CBN’s decision to lower interest rates earlier this year.
The deadline brings to a close a two-year recapitalisation process that has reshaped the banking industry.
The CBN introduced a new minimum capital base requirement for banks, with tiers depending on licence type.
The development marks a departure from the aggressive tightening monetary policy stance of the MPC since 2024.
CBN governor Yemi Cardoso says lifting petroleum products from the Dangote Refinery will moderate foreign exchange demand pressures.
The MPC also adjusted the asymmetric corridor to +500/-100 basis points from +100/-300.
The governor of the Central Bank of Nigeria, Yemi Cardoso, has reassured Nigerians that the bank’s economic reforms were yielding significant results.
Some financial and economic experts have advised the Monetary Policy Committee of the Central Bank of Nigeria to retain the lending rate of 24.75 per cent.
The bank said Deloitte Consulting meticulously assessed the transactions.
The MPC meeting was the first under Olayemi Cardoso, CBN governor since he came on board in September 2023.
