The Monetary Policy Committee of the Central Bank of Nigeria has decided to keep the Monetary Policy Rate at 26.5%. This decision came after its 305th meeting held in Abuja.
The CBN Governor, Olayemi Cardoso, made the announcement on Wednesday at the end of the session. The committee also left all other key monetary policy tools unchanged.
This means the central bank continues its current approach to managing prices. It also supports stability in the financial system.
The decision comes months after the bank reduced the rate by 50 basis points in February 2026. It later maintained the rate at a previous meeting in November 2025.
Also: CBN Introduces New Benchmark for Money Market
In other news, the Central Bank of Nigeria has announced a new benchmark called the Nigerian Overnight Financing Rate. The move aims to enhance transparency and strengthen monetary policy transmission.
The disclosure came 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 with the Financial Markets Dealers Association.
The statement 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.”
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