The Central Bank of Nigeria (CBN) has retained the benchmark interest rate at 26.5 per cent.
The CBN Governor, Olayemi Cardoso, announced this at the end of the Monetary Policy Committee’s 305th meeting in Abuja on Wednesday, May 20, 2026.
The MPC’s decision follows the 50-basis-point cut announced in February 2026.
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The move to retain rates also occurred after an increase in Nigeria’s inflation rate.
According to the most recent Consumer Price Index report released by the National Bureau of Statistics (NBS), the country’s headline inflation rose marginally to 15.69 per cent in April 2026 from 15.38 per cent recorded in March 2026, representing a 0.31 percentage point increase.
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