CBN MPC Holds Interest Rate Steady at 26.5%

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has decided to maintain the benchmark interest rate at 26.5% for the second time, as announced by CBN Governor Olayemi Cardoso on Tuesday following the committee’s 306th meeting in Abuja. This decision follows a previous hold at the last MPC briefing and a 50-basis-point cut that was implemented in February 2026.

Additionally, the MPC retained the Cash Reserve Ratio (CRR) at 45.0% for Deposit Money Banks, 16.0% for Merchant Banks, and 75% on non-TSA public sector deposits. The liquidity ratio was also kept at 30.0%.

The committee's latest decision indicates a preference to maintain existing monetary policy measures while closely monitoring inflation, exchange rate stability, and broader macroeconomic conditions.