The Central Bank of Nigeria retained the Monetary Policy Rate at 26.5% for the second consecutive meeting, citing geopolitical tensions and persistent inflationary risks. Economists and the organized private sector supported this decision, urging future rate easing as inflation m
The Central Bank of Nigeria's Monetary Policy Committee, led by Governor Olayemi Cardoso, retained the Monetary Policy Rate at 26.5% during its meeting on July 20-21, 2026, citing global risks and the need for cautious monetary policy despite a slight decline in inflation.
Nigeria's foreign exchange reserves have increased to $52.52 billion as of July 17, according to Central Bank Governor Yemi Cardoso. The Monetary Policy Committee retained the Monetary Policy Rate at 26.5%, while inflation showed a slight decline.
