The Central Bank of Nigeria (CBN) has decided to maintain its benchmark interest rate at 26.5 per cent, keeping monetary policy unchanged despite recent shifts in inflation.
The decision was announced on Wednesday in Abuja by the CBN Governor, Olayemi Cardoso, following the conclusion of the Monetary Policy Committee’s 305th meeting.
Cardoso confirmed that the committee agreed to retain the Monetary Policy Rate (MPR) at 26.5 per cent, alongside other existing policy settings.
The move follows earlier adjustments, including a 50-basis-point rate cut in February 2026 and a decision to hold rates steady at the November 2025 MPC meeting.
The committee’s stance reflects growing concern over inflationary pressures in the economy, even as policymakers continue to weigh growth and price stability.
Data from the National Bureau of Statistics shows that headline inflation rose slightly to 15.69 per cent in April 2026, up from 15.38 per cent in March, indicating a modest but notable increase in price levels.
Elijah Adeyemi
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