By Ayo Kehinde
The Central Bank of Nigeria (CBN) has announced that it will hold the 304th meeting of its Monetary Policy Committee (MPC) on Monday and Tuesday, February 23 and 24, 2026.
A circular published on its official website on Monday stated that the two-day meeting will take place at the CBN headquarters in Abuja.
According to the notice, deliberations will commence on Monday, February 23, 2026, at 10:00 a.m., while the second session is scheduled for Tuesday, February 24, 2026, at 8:00 a.m. The meeting will be held at the MPC Meeting Room on the 11th floor of the CBN Head Office.
“The 304th meeting of the Monetary Policy Committee (MPC) is scheduled to be held as follows:
“Day 1: Monday, February 23, 2026 – Time: 10.00 a.m. Day 2: Tuesday, February 24, 2026 – Time: 8.00 a.m”, the CBN said
The MPC is the apex bank’s highest policy-making body, responsible for formulating monetary and credit policies to achieve price stability and support sustainable economic growth. Through key instruments such as the Monetary Policy Rate (MPR), Cash Reserve Ratio (CRR), and Liquidity Ratio (LR), the committee guides interest rate conditions and the direction of monetary policy.
The committee comprises the CBN Governor, Deputy Governors, members of the Board, and appointed external members. It meets periodically to review key economic indicators, including inflation, gross domestic product, and exchange rate developments, before making policy decisions.
The forthcoming meeting follows a series of policy actions that have kept Nigeria’s monetary stance relatively tight. At its last MPC meeting in November 2025, the committee retained the MPR at 27 percent, sustaining its restrictive posture to curb inflationary pressures and stabilise the foreign exchange market.
The MPR serves as the benchmark interest rate for the economy and has remained elevated as part of the CBN’s broader strategy to tame rising prices and restore investor confidence. While the tight policy stance has contributed to higher borrowing costs for businesses and households, the apex bank has consistently argued that monetary discipline is necessary to restore macroeconomic stability.
Earlier, at its 302nd MPC meeting in September 2025, the committee reduced the MPR by 50 basis points, lowering it from 27.5 percent to 27 percent. The MPC also adjusted the asymmetric corridor around the MPR to +250/-250 basis points, from the previous +500/-100 range, in what analysts viewed as early signs of a cautious shift following modest improvements in inflation indicators.
