Nigeria’s apex bank has left the country’s benchmark interest rate unchanged at 26.5 per cent following the conclusion of the Monetary Policy Committee’s 305th meeting in Abuja.
Speaking after the meeting on Wednesday, Olayemi Cardoso announced, “The Committee’s decision is as follows: retain the monetary policy rate at 26.5 per cent.”
The latest outcome comes months after the Central Bank of Nigeria reduced the rate by 50 basis points in February 2026 and later maintained it during the November 2025 MPC session.
The committee’s decision comes amid a slight increase in the nation’s inflation level. Recent figures released by the National Bureau of Statistics revealed that headline inflation climbed from 15.38 per cent in March 2026 to 15.69 per cent in April 2026, reflecting a 0.31 percentage point increase.
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