The Central Bank of Nigeria has retained the Monetary Policy Rate (MPR) at 26.5 per cent following the conclusion of its 305th Monetary Policy Committee meeting held in Abuja on Wednesday.
The decision was announced by the Governor of the Central Bank of Nigeria, Olayemi Cardoso, after the MPC meeting attended by 11 members.
According to Cardoso, the committee resolved to maintain the benchmark interest rate at 26.5 per cent in a move aimed at sustaining macroeconomic stability and controlling inflationary pressures.
The MPC also retained the standing facilities corridor around the MPR at +500 to -450 basis points. In addition, the Cash Reserve Requirement (CRR) for Deposit Money Banks remained at 45 per cent, while Merchant Banks’ CRR stayed at 16 per cent. The CRR for non-TSA public sector deposits was also retained at 75 per cent.
Cardoso said the committee’s decision followed a detailed assessment of inflation trends and economic risks facing the country.
He noted that inflation had recorded slight increases for two consecutive months, mainly due to external shocks, but described the rise as temporary.
“The decisions of the MPC were anchored on a comprehensive assessment of risks to the outlook. Although inflation has risen marginally for two consecutive months, largely induced by external shocks, the MPC recognises its transitory nature and remains confident that the current macroeconomic environment is sufficiently robust to support a return to disinflation,” Cardoso said.
The latest decision comes after the apex bank reduced the MPR by 50 basis points in February 2026 and maintained the rate at its previous meeting in November 2025.
By retaining all major monetary policy parameters, the Central Bank of Nigeria signaled its commitment to stabilising prices, managing inflation and sustaining investor confidence in Nigeria’s economy.
