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BREAKING: CBN retains interest rate at 26.5%
The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) which serves as the benchmark interest rate in the country, at 26.5 percent.
Olayemi Cardoso, governor of the apex bank, announced on Wednesday at the end of the committee’s 305th meeting in Abuja.
Cardoso said, “The Committee’s decision is as follows: retain the monetary policy rate at 26.5 per cent.”
The decision comes after the apex bank reduced the rate by 50 basis points in February 2026 and maintained it at its November 2025 MPC meeting.
The MPC’s latest stance follows a slight increase in Nigeria’s inflation rate.
According to the latest Consumer Price Index report released by the National Bureau of Statistics (NBS), headline inflation rose marginally to 15.69 percent in April 2026, compared to 15.38 percent recorded in March 2026, representing an increase of 0.31 percentage points.
More to come…
