CBN retains interest rate at 26.50% for second consecutive time

The Central Bank of Nigeria, CBN, has retained the country’s Monetary Policy Rate, MPR, at 26.50 per cent for the second consecutive time, following its May and July 2026 meetings.

CBN Governor, Olayemi Cardoso, disclosed this during a media briefing after the 306th Monetary Policy Committee, MPC, meeting in Abuja on Tuesday.

According to Cardoso, all 11 members of the committee attended the 306th meeting, where they reviewed recent domestic and global economic developments before deciding to leave the benchmark lending rate unchanged.

The decision means the CBN has maintained its tight monetary policy stance in a bid to sustain the moderation in inflation, stabilise the foreign exchange market, and consolidate recent macroeconomic gains.

Recall that in May, the MPC also retained the interest rate at 26.50 per cent.

CBN retains interest rate at 26.50%

The latest MPR decision by the MPC comes as the country’s inflation eased to 15.91 per cent in June 2026. However, food inflation has remained high across Nigeria.

CBN retains interest rate at 26.50% for second consecutive time