The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has retained the country’s benchmark interest rate at 26.5 per cent.
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, announced the decision on Wednesday at the end of the committee’s 305th meeting held in Abuja.
Cardoso stated, “The Committee’s decision is as follows: retain the monetary policy rate at 26.5 per cent.”
The latest decision comes after the apex bank implemented a 50-basis-point rate cut in February 2026 and maintained the rate at its November 2025 Monetary Policy Committee meeting.
The MPC’s decision to hold rates steady follows a fresh increase in Nigeria’s inflation rate.
According to the latest Consumer Price Index report released by the National Bureau of Statistics, the country’s headline inflation rate rose slightly to 15.69 per cent in April 2026 from 15.38 per cent recorded in March 2026.
The report showed that inflation increased by 0.31 percentage points month-on-month, signalling continued pressure on consumer prices despite earlier monetary tightening measures.
Analysts say the decision to retain the benchmark rate reflects the apex bank’s cautious approach to balancing inflation control with economic growth and financial stability.
