The Central Bank of Nigeria has announced a 50 basis points increase in the Monetary Policy Rate (MPR) to 26.75%. This decision came after the Monetary Policy Committee (MPC) meeting, marking its 296th session in Abuja. CBN Governor Olayemi Cardoso revealed the adjustments in a press briefing. Alongside the MPR hike, the asymmetric corridor around the MPR was adjusted from +100 to -300 basis points to +500 to 100 basis points. Additionally, the CRR for Deposit Money Banks remains at 45% and for Merchant Banks at 14%, while the Liquidity Ratio is retained at 30%.