The Central Bank of Nigeria Monetary Policy Committee has decided to maintain the benchmark interest rate at 26.5 per cent following its latest policy meeting in Abuja.
The announcement was made on Wednesday by CBN Governor Olayemi Cardoso at the conclusion of the committee’s 305th meeting.
Cardoso stated, “The Committee’s decision is as follows: retain the monetary policy rate at 26.5 per cent.”
The decision comes after a 50-basis-point rate cut earlier in February 2026, as well as a subsequent hold announced during the MPC briefing in November 2025, indicating a more cautious monetary stance in recent meetings.
The latest move also follows emerging inflationary pressure in the Nigerian economy.
Data from the Consumer Price Index report released by the National Bureau of Statistics showed that headline inflation rose slightly to 15.69 per cent in April 2026, up from 15.38 per cent in March 2026, reflecting a marginal increase of 0.31 percentage points.
The committee’s decision suggests policymakers are closely monitoring price stability trends amid recent fluctuations in inflation while balancing broader economic considerations.
