The Central Bank of Nigeria has retained Nigeria’s benchmark interest rate at 26.5 per cent following the conclusion of the Monetary Policy Committee’s 305th meeting in Abuja.
CBN Governor Olayemi Cardoso announced the decision on Wednesday, saying the committee agreed to keep the Monetary Policy Rate unchanged despite mounting inflationary pressures.
“The Committee’s decision is as follows: retain the monetary policy rate at 26.5 per cent,” Cardoso stated at the post-meeting briefing.
The decision comes months after the apex bank cut the rate by 50 basis points in February 2026 and later maintained the rate during the MPC meeting held in November 2025.
According to the latest Consumer Price Index report released by the National Bureau of Statistics, Nigeria’s headline inflation rose to 15.69 per cent in April 2026 from 15.38 per cent recorded in March, marking a 0.31 percentage point increase.
The MPC’s move signals continued caution by monetary authorities as they attempt to balance inflation control with economic growth and investment stability.