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CBN slashes interest rate to 26.5%

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6 months ago

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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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Pearl Essien is a digital content creator and a graduate of the prestigious University of Calabar. With over four years of experience in writing, she specializes in crafting engaging stories that inform and inspire readers. Outside of her work, Pearl enjoys storytelling, reading, and playing table tennis, bringing the same curiosity and passion to her hobbies as she does to her writing.

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