The Monetary Policy Committee of the Central Bank of Nigeria has voted to retain the Monetary Policy Rate at 26.5 percent following its 305th meeting.
The decision was reached at the latest MPC session, with 11 members in attendance. CBN Governor Olayemi Cardoso announced the decision on Wednesday at the conclusion of the meeting in Abuja.
“The Committee resolved to retain the Monetary Policy Rate at 26.5 per cent,” Cardoso said.
The decision follows a 50-basis-point reduction in February 2026 and a previous hold at the MPC briefing in November 2025. By holding the benchmark interest rate and maintaining all other key policy parameters at their current levels, the apex bank signals a continued cautious stance on inflation management and overall macroeconomic stability.
The MPC’s decision to retain rates occurred after a marginal increase in Nigeria’s inflation rate. According to the most recent Consumer Price Index report released by the National Bureau of Statistics, the country’s headline inflation rose to 15.69 percent in April 2026 from 15.38 percent in March 2026, representing a 0.31 percentage point increase.
