Breaking: CBN Retains Benchmark Interest Rate At 27%

Monetary Policy Committee of the Central Bank of Nigeria (CBN) has kept the benchmark interest rate unchanged at 27 per cent, extending its pause on monetary tightening.

CBN Governor Olayemi Cardoso announced the decision today at the end of the committee’s 303rd meeting in Abuja.

He explained that the committee, by a majority vote, decided to maintain the current monetary policy stance, as members were not fully convinced that the present economic conditions warranted another rate cut.

The decision follows a 50-basis-point reduction in September 2025—the only cut since the current CBN administration began tightening the monetary policy cycle.

It also marks the MPC’s fourth consecutive hold this year.

The committee had raised interest rates six times in 2024 in response to rising inflation and persistent currency pressures.