The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has left the country’s benchmark interest rate unchanged at 26.5 per cent.
CBN Governor Olayemi Cardoso announced the decision on Tuesday while briefing journalists after the conclusion of the committee’s 306th meeting in Abuja.
Cardoso said, “The Committee decided as follows: retain the monetary policy rate at 26.5 per cent.”
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The latest decision marks the second consecutive time the MPC has maintained the benchmark rate, following an earlier pause after reducing it by 50 basis points in February 2026.
The committee’s decision came despite a slight moderation in the country’s inflation rate.
According to the latest Consumer Price Index released by the National Bureau of Statistics (NBS), Nigeria’s headline inflation dropped marginally from 15.93 per cent in May to 15.91 per cent in June 2026.
The June figure represents the first decline after three straight months of increases, with inflation rising from 15.06 per cent in February to 15.38 per cent in March, 15.69 per cent in April and 15.93 per cent in May.
More details to follow.