CBN to Convene 304th MPC Meeting on February 24 to Review Interest Rates
Central Bank of Nigeria Schedules February MPC Meeting Amid Easing Inflation
The Central Bank of Nigeria (CBN) has officially scheduled its 304th Monetary Policy Committee (MPC) meeting for February 24, 2026. This two-day statutory gathering, which commences on February 23 at the CBN headquarters in Abuja, serves as a critical juncture for the apex bank to evaluate the nation’s macroeconomic health and adjust key policy parameters, including interest rates and liquidity ratios.
According to an official circular released by the CBN, the committee will deliberate on recent inflationary trends, exchange rate fluctuations, and the overall stability of the financial system. The meeting is particularly significant as it arrives at a time when Nigeria is balancing a transition in inflation reporting with the need to maintain investor confidence in the foreign exchange market.
Review of Current Monetary Stance
At its preceding meeting in November 2025, the MPC elected to maintain the Monetary Policy Rate (MPR) at 27 per cent. This decision followed a period of aggressive tightening intended to curb persistent inflationary pressures and defend the naira. By holding the rate, the committee signaled a cautious approach to ensure that the gains made in price stability were not undermined by premature easing.
Current standing figures from the November 2025 resolution include:
Monetary Policy Rate (MPR): 27.00%
Cash Reserve Ratio (CRR): 45.0% for commercial banks; 16.0% for merchant banks
Liquidity Ratio: 30.0%
While the MPC implemented a 50-basis-point cut in September 2025, moving from 27.5 per cent to 27 per cent, subsequent meetings have favored stability. The upcoming February session will determine if the current economic indicators warrant a further reduction or a continued "hold" stance.
Inflationary Outlook and Economic Indicators
Data from the National Bureau of Statistics (NBS) indicates a notable shift in the inflationary landscape. Headline inflation was reported at 15.15 per cent in December 2025, a significant decline from 17.33 per cent in November and 34.80 per cent in December 2024. This deceleration follows a revision of the Consumer Price Index (CPI) methodology; however, the CBN has maintained that it seeks sustained price stability rather than transitory moderation before committing to a dovish policy shift.
The committee’s deliberations will also likely touch upon the surge in money supply, which recently reached ₦124.4 trillion, and its potential impact on liquidity and the foreign exchange market.
Implications for Investors and the Housing Sector
For investors and professionals within the real estate and financial sectors, the February 24 announcement will be pivotal. The MPC’s decisions directly influence the cost of borrowing and the availability of credit. A sustained high-interest rate environment continues to pose challenges for mortgage accessibility and construction financing, whereas any signal of future easing could stimulate capital flow into long-term infrastructure and housing projects.
The CBN is expected to announce the outcome of the 304th MPC meeting on the afternoon of Tuesday, February 24, providing a roadmap for Nigeria’s monetary direction for the second quarter of 2026.
