The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has retained the benchmark interest rate at 26.5 per cent after its 305th meeting in Abuja.
The decision was announced on Wednesday by Olayemi Cardoso following deliberations by all 11 members of the committee.
According to Cardoso, the committee agreed to maintain the Monetary Policy Rate at 26.5 per cent despite growing inflationary pressure in the economy.
The latest decision follows a 50-basis-point rate cut in February 2026 and an earlier move to retain rates during the November 2025 MPC meeting.
By leaving all key monetary policy parameters unchanged, the apex bank signalled a cautious approach aimed at balancing inflation control with economic growth and stability.
Data released by the National Bureau of Statistics showed that inflation rose slightly in April 2026, with headline inflation increasing from 15.38 per cent in March to 15.69 per cent in April, marking a 0.31 percentage point increase within one month.
