BREAKING: CBN Holds Interest Rate At 27%

• The Central Bank of Nigeria (CBN) has maintained the benchmark interest rate at 27%, following the Monetary Policy Committee meeting held in Abuja.

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has voted to retain the Monetary Policy Rate (MPR) at 27 percent, maintaining its tight monetary stance amid ongoing inflationary pressures.

CBN Governor Olayemi Cardoso announced the decision on Tuesday while addressing journalists at the end of the Committee’s 303rd meeting held in Abuja.

The MPR — which serves as the benchmark for all lending rates across commercial banks and financial institutions — is a key tool used by the apex bank to regulate borrowing costs, control inflation, and guide overall economic stability.

Cardoso said the Committee carefully assessed Nigeria’s macroeconomic environment, recent inflation data, exchange rate movements, and global economic trends before opting to hold the rate.

DON’T MISS: Federal High Court Issues Jail Warning to First Bank, Access Bank, Zenith MDs

He explained that retaining the MPR would help consolidate previous monetary tightening efforts aimed at reducing inflationary pressures and stabilising the financial system.

“The MPC resolved to keep the Monetary Policy Rate at 27 percent as part of measures to sustain the fight against inflation,” he said.

Other policy parameters, including the Cash Reserve Ratio (CRR), Liquidity Ratio (LR), and asymmetric corridor around the MPR, are expected to be announced in the detailed communiqué to be released later.

Nigeria’s inflation has continued to rise, driven largely by food prices, foreign exchange volatility, and high transportation costs.

A full breakdown of the MPC decisions is expected shortly.