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The Central Bank of Nigeria (CBN) has maintained its key interest rate at 26.5%.
The CBN Governor, Olayemi Cardoso, announced this at the end of the 305th meeting of the Monetary Policy Committee in Abuja on Wednesday, May 20, 2026.
The MPC’s decision follows the 50 basis point cut announced in February 2026.
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The move to maintaining rates also came after an increase in Nigeria’s inflation rate.
According to the latest Consumer Price Index report released by the Bureau of National Statistics (NBS), the country’s headline inflation increased marginally to 15.69% in April 2026 from 15.38% recorded in March 2026, an increase of 0.31 percentage points.
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