Encouraged by Disinflation, FX Stability, Others, CBN Cuts MPR to 26.5% from 27% Cardoso: gross external reserve peaked at 13-year-high of $50.45bn as of February 16, says Executive Order 09 will boost accretion to reserves Declares 20 banks have met new capital thresholds with N4.05trn raised CBN mops up $190m to tame Naira rally NECA, CPPE, Uwaleke hail contractionary monetary policy shift
James Emejo in Abuja, Nume Ekeghe and Dike Onwuamaeze in Lagos
Central Bank of Nigeria (CBN), yesterday, resolved to reduce the Monetary Policy Rate (MPR), the
benchmark interest rate, by 50 basis points to 26.5 per cent, from 27 per cent.
CBN, however, retained the Standing Facilities Corridor (SFC) around the MPR at +50/-450 basis
points, and left the Cash Reserve Requirement (CRR) for Deposit Money Banks (DMBs), Merchant
Banks (MBs), and non-TSA public Continued on page 8
Wednesday 25 February, 2026 Vol 31. No 11280. Price: N400
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FG Denies Payment of N2 Billion Ransom to Secure Release of Students of St. Mary’s School
PDP: Paying criminals shameful, troubling ADC demands clarification, alleges FG encouraging kidnapping US lawmakers submit report to Trump, want Fulani herdsmen disarmed
Chuks Okocha, Emmanuel Addeh, Olawale Ajimotokan and Michael Olugbode in Abuja
The federal government yesterday dismissed claims that it paid as much as a N2 billion ransom to
secure the release of students of St. Mary’s School, Papiri, Niger State, describing the allegation as false
and baseless. In a statement issued in Abuja by the Minister of Information and
National Orientation, Mohammed Idris, the government insisted that its longstanding policy against ransom
payments remains unchanged. Continued on page 8
Citing Pressing Family Considerations, IGP Kayode Egbetokun Resigns Tinubu accepts resignation, appoints AIG Tunji Disu as replacement in acting capacity Uncertainty envelops Louis Edet House as fate of DIGs hangs in the balance CSO opposes choice of new police boss Warns 29 senior officers may be forced out
Story on page 8
SANWO-OLU, AIG-IMOUKHUEDE, SENATORS, OTHERS AT CAMBRIDGE EXECUTIVE PROGRAMME...
Lagos State Governor, Babajide Sanwo-Olu; Chairman, EnterpriseNGR, Aigboje Aig-Imoukhuede, CFR; Senators Adetokunbo Abiru, Adamu Aliero, and Umar Sadiq Suleiman of the Senate Committee on Banking, Insurance and Other Financial Institutions; Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole; Director-General, Securities and Exchange Commission (SEC), Dr. Emomotimi Agama; and Special Adviser to the President on Finance, Sanyade Okoli, with executives of EnterpriseNGR, representatives of the Federal Ministry of Finance, Central Bank of Nigeria (CBN), Nigeria Revenue Service (NRS), Nigerian Investment Promotion Commission (NIPC) and members of the Lagos International Financial Centre (LIFC) Council, alongside facilitators from the Møller Institute, TheCityUK, and the FDI Center, during an executive training programme at the Møller Institute, University of Cambridge, United Kingdom.