The Central Bank of Nigeria has kept its benchmark interest rate unchanged at 26.5 percent following its latest Monetary Policy Committee meeting.
CBN Holds Rate at 26.5%
No surprises from Abuja. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has voted to retain the Monetary Policy Rate (MPR) at 26.5 percent, holding steady on the country’s benchmark lending rate. The call came at the close of the MPC’s 306th meeting, a two-day session held in Abuja on July 20 and 21, 2026, Nairametrics reports.
All 11 committee members were present, weighing recent domestic and global economic trends before settling on the decision to stand pat. The move signals the CBN is sticking with its tight monetary policy stance, aiming to keep inflation on its downward path, stabilise the naira in the foreign exchange market, and lock in Nigeria’s recent macroeconomic gains.
Further details on the committee’s reasoning and outlook are expected to follow.
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