The Central Bank of Nigeria’s Monetary Policy Committee has retained all economic parameters from the first quarter, including the interest rate at 27.50 per cent.

The announcement was made by the CBN Governor, Olayemi Cardoso, after the committee’s meeting held on May 19 and 20.

The committee had at its 299th meeting held on 19th and 20th February 2025, decided to retain the MPR at 27.50 per cent, and retain the asymmetric corridor around the MPR at +500/-100 basis points.


It also retained the Cash Reserve Ratio of Deposit Money Banks at 50.00 per cent and Merchant Banks at 16 per cent, while the Liquidity Ratio remained at 30.00 per cent.

While disclosing the decision of the MPC on Tuesday, Cardoso referenced the National Bureau of Statistics (NBS) inflation rate for April, pegged at 23.71 per cent.

According to the NBS, the annual inflation rate fell to 23.71 per cent in April 2025, from 24.23% in the previous month.

Food inflation, the largest component of the inflation basket, remained elevated but moderated to 21.26 per cent from 21.79 per cent in March, mainly on account of prices of some items such as maize, wheat, yam and wheat.

CBN Governor, Cardoso
The CBN governor said food inflation remained moderate in April, commending the Federal Government for implementing measures to increase food supply, as well as stepping up the fight against insecurity, especially in farming communities.

“The MPC encourages security agencies to sustain the momentum while the government provides necessary protection to farmers to further boost local food production,” he said.

Inflationary Pressures
The committee, however, acknowledged underlying inflationary pressures driven by high electricity prices, persistent foreign exchange demand pressure, and other legacy structure factors.

The MPC also noted new policies introduced by the Federal Government to boost local production, reduce foreign exchange demand pressure, and lessen the pass-through of higher rates to domestic prices.

“Given the relative stability in the foreign exchange market, members urge the bank to sustain the implementation of the ongoing reforms to further boost the economy,” Cardoso said.

Africa’s Global bank, United Bank for Africa (UBA) Plc, has reaffirmed its leadership position in fostering economic growth and empowerment as it clinched four major awards at the 2025 Development Bank of Nigeria (DBN) Service Ambassador Awards which held at the weekend in Lagos.

The prestigious awards, recognises financial institutions driving impactful support for Micro, Small, and Medium Enterprises (MSMEs) across Nigeria, and UBA emerge as top performer, coming tops in the following categories: DBM with the Highest Impact on MSMEs in Nigeria; DBM with the Highest Impact on Women MSMEs; PFI with the Highest Impact in the North-Central Zone; and the Prestigious Platinum Service Ambassador Award, the highest award of the night.

These accolades underscore UBA’s unwavering commitment to empowering businesses, advancing financial inclusion, and supporting women entrepreneurs and underserved communities across Nigeria.

UBA’s recognition at the awards further solidifies its position as leading force in Nigeria’s financial sector, reinforcing its mission to empower small and medium enterprises and businesses and communities through innovative banking solutions.

DBN 1: Group Head, Retail and Digital Banking, United Bank for Africa (UBA); Shamsideen​​​​ Fashola; Managing Director/CEO, Development Bank of Nigeria, Dr. Tony Okpanachi; Group Deputy Managing Director, UBA, Muyiwa Akinyemi; and Group Head, SME Banking, UBA, Mr. Babatunde​​​​Ajayi at the 2025 Development Bank of Nigeria (DBN) Service Ambassador Awards were UBA won four awards including The Prestigious Platinum Service Ambassador Award, the highest honor of the night, held at the weekend in Lagos.

UBA’s Deputy Managing Director, Mr. Muyiwa Akinyemi, who received the Platinum Service Ambassador Award on behalf of the bank, expressed his delight, stating; “We are deeply honoured to be recognised by the Development Bank of Nigeria for our efforts in driving sustainable growth and empowerment for MSMEs, particularly women-led businesses and enterprises in Nigeria.

These awards are a testament to our strategic focus on providing accessible financing, capacity building, and innovative solutions that enable small businesses to thrive. We remain committed to fostering economic resilience and prosperity across Nigeria,” Muyiwa said.

Dr. Tony Okpanachi, Managing Director/CEO of the Development Bank of Nigeria, commended UBA’s outstanding contributions, saying:

“UBA has consistently demonstrated exceptional dedication to alleviating financing constraints faced by MSMEs in Nigeria. Their impactful interventions, especially in supporting women entrepreneurs and underserved regions, align perfectly with DBN’s mandate. We celebrate UBA’s achievements and encourage them to continue setting benchmarks in MSME financing.”

The Development Bank of Nigeria Service Ambassador Awards is an annual event that celebrates financial institutions and partners driving transformative change in Nigeria’s MSME sector. DBN, established to address financing challenges for small businesses, collaborates with banks like UBA to enhance access to credit and business support services.

The Development Bank of Nigeria (DBN) was established to alleviate financing constraints faced by MSMEs in Nigeria through the provision of credit guarantees, capacity building, and partial credit risk-sharing with Participating Financial Institutions (PFIs)

United Bank for Africa is Africa’s Global Bank. Operating across twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology. UBA is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 45 million customers globally.

Shareholders of Access Holdings Plc have approved a total dividend of N125.3bn for the financial year ended December 31, 2024.

The approval was granted at the company’s Annual General Meeting held on Thursday in Lagos, where shareholders commended the board and management for the group’s performance and expansion strategy.

According to the board, a final dividend of N2.05 per share was proposed, bringing the total dividend for 2024 to N2.50 per share.

Chairman of Access Holdings, Aigboje Aig-Imoukhuede, said the company’s performance reflects the strength of its balance sheet and resilience despite macroeconomic challenges.



He said, “Central to this success was our landmark capital raising programme, through which we raised N351bn via a rights issue. This made Access Bank the first Nigerian bank to meet the new N500bn minimum capital requirement set by the Central Bank of Nigeria, ahead of the 2026 deadline. The rights issue significantly bolstered our capital base, increasing shareholders’ funds to N3.76tn.”

Aig-Imoukhuede added that gross earnings rose by 88 per cent year-on-year from N2.59tn in 2023 to N4.88tn in 2024, while profit before tax grew from N729bn to N867bn.

Acting Group Chief Executive Officer, Bolaji Agbede, said the company recorded growth across major balance sheet indicators and maintained a healthy, diversified financial position.

She noted that Access Holdings is strategically positioned for growth across its banking operations in 22 markets on four continents, as well as its non-banking subsidiaries in investment management and technology.

“We will continue to invest prudently, manage risks effectively and build deeper relationships with all stakeholders to ensure consistent value delivery,” Agbede said.

Recall that Access Holdings Plc recorded a profit after tax of N642.2bn for the financial year ended December 31, 2024. This marked a four per cent increase from the N619.3bn reported in 2023.