The Central Bank of Nigeria (CBN) has retained the country’s benchmark interest rate at 26.5 per cent.
The decision was announced on Wednesday by the CBN Governor, Olayemi Cardoso, at the end of the Monetary Policy Committee (MPC) 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 move follows a 50-basis-point rate cut in February 2026, as well as a previous decision to hold rates at the November 2025 MPC meeting.
The decision comes amid a slight uptick in Nigeria’s inflation rate, raising concerns among policymakers.
According to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics, headline inflation rose to 15.69 per cent in April 2026, up from 15.38 per cent recorded in March 2026, reflecting a 0.31 percentage point increase.
Analysts say the MPC’s decision to maintain the current rate signals a cautious approach by the apex bank as it balances inflation control with economic growth considerations.
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