Monetary Policy Committee of the Central Bank of Nigeria has kept the benchmark interest rate at 27 percent, extending its pause on monetary tightening.
CBN Governor Olayemi Cardoso announced the decision yesterday Tuesday after the committee’s 303rd meeting in Abuja. He stated, “The Committee decided by a majority vote to maintain the monetary policy stance,” indicating that members are not yet convinced that current economic conditions warrant further rate cuts.
This decision follows a 50-basis-point reduction in September 2025, the only rate decrease since the current tightening cycle began under the new CBN leadership. It also represents the fourth consecutive hold this year.
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