By Samuel Akpan
Nigeria’s Central Bank has kept its benchmark interest rate steady at 26.5 per cent for the second time in a row, even as the latest data shows a slight easing in headline inflation to 15.91 per cent in June.
The decision was announced by CBN Governor Olayemi Cardoso on Tuesday at the conclusion of the Monetary Policy Committee’s 306th meeting in Abuja.
Cardoso stated that the committee had decided to retain the monetary policy rate at 26.5 per cent.
This marks the second consecutive hold by the MPC, coming after an earlier decision to maintain the rate unchanged and following a 50 basis point cut that was implemented in February 2026.
The move comes against the backdrop of the latest Consumer Price Index figures released by the National Bureau of Statistics, which showed Nigeria’s headline inflation easing marginally to 15.91 per cent in June 2026 from 15.93 per cent recorded in May.
The June reading represents the first decline after three consecutive monthly increases, with the rate having risen steadily from 15.06 per cent in February to 15.38 per cent in March, 15.69 per cent in April and 15.93 per cent in May.
Details shortly…