The Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) has decided to maintain the benchmark interest rate at 27 per cent, continuing its pause on monetary tightening.
CBN Governor Olayemi Cardoso announced the decision on Tuesday at the conclusion of the committee’s 303rd meeting in Abuja.
“The Committee decided by a majority vote to maintain the monetary policy stance,” Cardoso said, noting that members were not yet convinced that current economic conditions warranted another rate adjustment.
The decision follows a 50-basis-point rate cut in September 2025—the only reduction since the tightening cycle began under the current CBN leadership. It also represents the fourth consecutive hold on rates this year.
In 2024, the MPC raised interest rates six times in response to rising inflation and currency pressures.
The committee’s decision signals a cautious approach as it monitors economic indicators before making further policy adjustments.
