The Monetary Policy Committee of the Central Bank of Nigeria kept the benchmark interest rate at 27 per cent, choosing to extend its pause on monetary tightening. CBN Governor Olayemi Cardoso announced the decision on Tuesday after the committee concluded its 303rd meeting in Abuja. He explained that the majority of members agreed to maintain the current stance because they did not believe economic conditions had shifted enough to justify another cut.
This decision follows the 50-basis-point reduction made in September 2025, which remains the only rate cut since the tightening cycle began under Cardoso’s leadership. It also becomes the fourth consecutive time the MPC has held the rate this year. TechMarge noted that throughout 2024, the committee had raised interest rates six times in response to intense inflationary pressures and instability in the currency market.
