The Central Bank of Nigeria (CBN) has reduced the country’s benchmark interest rate to 26.5 per cent.
This follows the outcome of its latest Monetary Policy Committee meeting in Abuja.
Olayemi Cardoso, CBN governor announced the decision on Tuesday after the MPC’s 304th meeting, stating that the committee agreed to lower the monetary policy rate by 50 basis points.
According to him, “the Committee decided to reduce the monetary policy rate by 50 basis points to 26.5%.”
This marks the second rate cut under the current leadership of the apex bank, following an earlier reduction in September 2025, while rates were maintained at the last MPC meeting in November 2025.
The decision comes amid easing inflationary pressures, with Nigeria’s headline inflation dropping to 15.10 per cent in January 2026.