The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has retained the country’s Monetary Policy Rate (MPR) at 26.5% following its 305th meeting held in Abuja.
The meeting, which had 11 members in attendance, focused on inflation trends, lending conditions, and the overall performance of the Nigerian economy.
CBN Governor Olayemi Cardoso announced the decision on Wednesday after the committee’s deliberations.
According to the apex bank, all other key monetary policy parameters were also left unchanged, signalling the bank’s decision to continue its current strategy aimed at controlling inflation and maintaining financial stability.
The latest decision comes after the CBN reduced the benchmark interest rate by 50 basis points in February 2026 before maintaining the rate at its subsequent meeting.
Meanwhile, the CBN also unveiled the Nigerian Overnight Financing Rate, a new benchmark designed to improve transparency and strengthen the country’s money market operations.
In a statement issued by the Acting Director of Corporate Communications, Hakama Sidi-Ali, the bank explained that the initiative was developed in partnership with the Financial Markets Dealers Association.
The statement noted that the new benchmark would enhance monetary policy transmission, improve transparency, and support the growth of Nigeria’s financial market system.
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