The Monetary Policy Committee of the Central Bank of Nigeria has retained the benchmark interest rate at 26.5 per cent.
Following the committee’s 305th meeting in Abuja on Wednesday, Olayemi Cardoso, the governor of CBN, made the announcement.
Cardoso said, “The Committee’s decision is as follows: retain the monetary policy rate at 26.5 per cent.”
The action comes after a halt at the MPC briefing in November 2025 and a 50-basis-point drop declared in February 2026.
The PUNCH reported that Nigeria’s inflation rate rose ahead of the MPC’s decision to keep rates unchanged.
According to the latest Consumer Price Index data from the National Bureau of Statistics, headline inflation increased by 0.31 percentage points, from 15.38 percent in March 2026 to 15.69 percent in April 2026.
More details later…
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