CBN Keeps Interest Rate At 26.5% 

The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has decided to keep the Monetary Policy Rate at 26.5% after its 305th meeting held in Abuja.

Naija News reports that the meeting had 11 members in attendance, and the decision was taken after discussions on the state of inflation, borrowing conditions, and the wider economy.

The announcement was made by the CBN Governor, Olayemi Cardoso, at the end of the session on Wednesday.

The committee kept all other key monetary policy tools unchanged along with the main lending rate. This means the central bank is continuing with its current approach to managing prices and supporting stability in the financial system.

The decision comes months after the bank reduced the rate by 50 basis points in February 2026 and later maintained it at a previous meeting in November 2025.

In other news, the Central Bank of Nigeria (CBN) has announced the introduction of the Nigerian Overnight Financing Rate as a new benchmark for the country’s money market, aimed at enhancing transparency and strengthening monetary policy transmission.

The disclosure was contained in a statement issued by the apex bank’s Acting Director of Corporate Communications, Hakama Sidi-Ali.

According to the statement, the initiative was developed in collaboration with the Financial Markets Dealers Association to deepen Nigeria’s financial system.

It read, “The Central Bank of Nigeria, in collaboration with the Financial Markets Dealers Association, today announced the introduction of the Nigerian Overnight Financing Rate, a standardised benchmark aimed at enhancing transparency, strengthening monetary policy transmission, and deepening Nigeria’s money market.”

Follow on Google News