The Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) has decided to keep the country’s benchmark interest rate, the Monetary Policy Rate (MPR), unchanged at 26.5%.
The decision was announced after the committee’s meeting held in Abuja on July between 20-21, 2026. CBN Governor Olayemi Cardoso explained that while domestic economic indicators show resilience following recent reforms, heightened global geopolitical tensions, particularly in the Middle East, continue to threaten energy prices and domestic inflation.
The MPC also retained the Standing Facilities Corridor, Cash Reserve Ratio (CRR) for deposit money banks, merchant banks, and non-TSA public sector deposits, citing a thorough assessment of both domestic and international economic risks. Despite a marginal decline in headline inflation in June 2026, the committee emphasized that ongoing global uncertainties influenced their cautious stance.
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