CBN Governor, Olayemi Cardoso
The Central Bank of Nigeria (CBN) has retained the benchmark interest rate at 26.5 per cent.
The CBN Governor, Olayemi Cardoso, announced this at the end of the Monetary Policy Committee’s 305th meeting in Abuja on Wednesday, May 20, 2026.
Cardoso announced that the MPC also retained the Cash Reserve Ratio (CRR) at 45 per cent for commercial banks, 16 per cent for merchant banks, and 75 per cent for non-TSA public sector deposits.
He said Standing Facilities Corridor was also retained at +50 / -450 basis points around the MPR.
WAEC backs Dangut as 2026 WASSCE continues smoothly
The MPC’s decision follows the 50-basis-point cut announced in February 2026.
The move to retain rates also occurred after an increase in Nigeria’s inflation rate.
According to the most recent Consumer Price Index report released by the National Bureau of Statistics (NBS), the country’s headline inflation rose marginally to 15.69 per cent in April 2026 from 15.38 per cent recorded in March 2026, representing a 0.31 percentage point increase.
Ekiti State Governor Biodun Oyebanji on Sunday visited victims of the Eda Oniyo kidnap incident…
Seplat Energy Plc has ended routine gas flaring across its onshore operations in Nigeria, describing…
The Committee for the Defence of Human Rights has called for an independent investigation into…
Kaduna State Governor Uba Sani has pledged not to demolish any citizen’s property without paying…
The operatives of the National Drug Law Enforcement Agency (NDLEA) have arrested a 45-year-old PhD…
The Federal Government has dismissed claims that it spent more than ₦8 trillion outside the…
This website uses cookies.