Business News
JUST IN: CBN maintains interest rate at 26.5%
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained the country’s benchmark interest rate at 26.5 per cent.
CBN Governor, Olayemi Cardoso, announced the decision on Wednesday after the conclusion of the committee’s 305th meeting held in Abuja.
Speaking at the meeting, Cardoso said, “The Committee’s decision is as follows: retain the monetary policy rate at 26.5 per cent.”
The decision means the apex bank maintained the current rate in a bid to sustain its monetary policy measures aimed at controlling inflation and stabilising the economy.
The move follows the 50-basis-point cut announced in February 2026 and a hold at the MPC briefing in November 2025.
Very Nigerian observed that the MPC’s decision to retain rates 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, the country’s headline inflation rose marginally to 15.69 per cent in April 2026 from 15.38 per cent in March 2026, representing a 0.31 percentage point increase.
More details later.
Follow Us on Google Discover
2027: I will review NELFUND, offer debt forgiveness to Nigerian students – Atiku vows
Yuguda warns Nigerians against Atiku’s promise to restore fuel subsidy, says its a political bait
Strong GDP, Reserves don’t put food on Nigerians’ tables – APC Chairman
2027: APC chieftain resigns, rejects support for Tinubu, Bauchi Governorship candidate
Two Kwara lawmakers lose seats after dumping APC for PDP
Gabriel Jesus joins Barcelona from Arsenal until 2029
BREAKING: PDP Chieftain Daniel Osi Orbih passes away
Panic in Kwara as two-storey building collapses, traps eight
2027: Major Jack picked as Chinda’s running mate in Rivers
Super Eagles Coach Chelle picks two assistants for U-23 team
Court nullifies APC Zamfara North Senatorial primary, orders fresh election
Court sentences killer of Tupac, 30 years after rappers killing
How security forces rescued 15 NYSC members, six others from Kogi kidnappers – Police
On LG Autonomy: I will send funds directly to LGs from Day 1 in office – Atiku vows
Nnamdi Kanu: IPOB gives FG 14-day ultimatum, threatens 2027 poll boycott
7 Ongoing recruitment opportunities Nigerians shouldn’t miss before deadline (How to apply)
Tinubu spends 261 Days abroad as Presidency’s travel spending hits N37.64bn
FBI files won’t decide 2027 election, Nigerians vote will – Tinubu’s lawyer Afolabi says
BREAKING: Ex-Bayelsa gov Timipre Sylva dumps APC, says party has lost its founding ideals
Tinubu drags South Africa to African Union over xenophobia
Sultex, Goddessa exits BBNaija House
Three killed, many injured as suspected cultists invade Anambra
Wike, Fubara meet for first time after governor gives up second-term bid
BREAKING: Lionel Messi retires from international football
Plateau Gov Mutfwang bans Hisbah activities, orders immediate crackdown
Alleged drug trafficking: Tinubu will be embarrassed at UNGA, won’t meet Trump – US Firrm
2027: PDP gains in Yobe as 2,025 opposition members join party
‘Nigeria is burning’ – Atiku criticises Tinubu over three-week Europe vacation
Tragedy in Kano as three sisters drown after boat mishap
