BREAKING: CBN holds benchmark interest rate at 26.5% 

The Central Bank of Nigeria (CBN) has maintained its Monetary Policy Rate (MPR) at 26.5 per cent, following its latest Monetary Policy Committee (MPC) meeting in Abuja.

The decision was announced on Wednesday by Olayemi Cardoso, the governor of  CBN, at the end of the committee’s 305th meeting.

Cardoso said the committee unanimously agreed to hold the rate steady.

“The Committee’s decision is as follows: retain the monetary policy rate at 26.5 per cent,” he stated.

The MPC had earlier reduced the benchmark rate by 50 basis points in February 2026, before maintaining a hold in subsequent meetings.

The latest decision comes against the backdrop of rising inflationary pressure in the economy.

Data from the National Bureau of Statistics (NBS) showed that Nigeria’s headline inflation rose slightly to 15.69 per cent in April 2026, up from 15.38 per cent in March, representing a 0.31 percentage point increase.

More details to come…