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Abuja, FCT – By Prime Brief Media

The Monetary Policy Committee of the Central Bank of Nigeria has voted to retain the Monetary Policy Rate at 26.50 per cent, holding the line against growing calls for a rate cut amid persistent inflationary pressures.

CBN Governor Olayemi Cardoso announced the decision at a press briefing on Wednesday following the conclusion of the 305th MPC meeting in Abuja. He stated that the decision was reached unanimously by all members of the committee in attendance.

Cardoso said the MPC also retained the Cash Reserve Ratio at 45 percent for commercial banks and at 16 per cent for merchant banks. The 75 per cent CRR on non-TSA public sector deposits was also maintained. The liquidity ratio was retained at 30 percent, while the standing facilities corridor was adjusted to +50/-450 basis points around the MPR.

The decision comes despite a recent CBN survey showing that a majority of Nigerians approximately 63.3 percent favour a reduction in interest rates to ease the cost of borrowing for businesses and households. However, the MPC appears to have prioritised the fight against inflation, which rose to 15.69 per cent in April from 15.38 per cent in March.

The Committee last cut the MPR by 50 basis points at its 304th meeting in February 2026.

Prime Brief Media will report on further economic indicators and official responses as they become available.

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