Business News
CBN slashes interest rate to 26.5%
The Monetary Policy Committee of the Central Bank of Nigeria has reduced the country’s benchmark interest rate to 26.5 per cent.
This is the second time the committee has lowered the rate under the current leadership of the apex bank.
The Governor of the Central Bank, Olayemi Cardoso, announced the decision on Tuesday at the end of the committee’s 304th meeting held in Abuja.
Cardoso said, “The Committee decided to reduce the monetary policy rate by 50 basis points to 26.5%.”
The move followed a 50-basis-point cut implemented in September 2025 and a hold at the previous MPC briefing in November 2025.
Very Nigerian observed that the MPC’s decision to cut rates occurred as Nigeria’s headline inflation eased to 15.10% in January 2026.
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