“CBN holds interest rate to 27.5%”

In a closely watched decision, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has voted to maintain the Monetary Policy Rate (MPR) at 27.5 per cent, keeping the nation’s benchmark interest rate steady amid ongoing economic challenges.

CBN Governor Olayemi Cardoso announced the decision during a press briefing on Tuesday, following the MPC’s 300th meeting held in Abuja—a milestone gathering for the panel that plays a key role in shaping Nigeria’s monetary direction.

The decision signals a continued cautious approach by the apex bank, as it seeks to strike a balance between taming inflation, supporting economic growth, and stabilizing the naira in a volatile global and domestic environment.