The Monetary Policy Committee of the Central Bank of Nigeria has reduced the benchmark interest rate to 26.5% per cent. This was the second time the MPC would be cutting rates under the current leadership of the apex bank. The CBN Governor, Olayemi Cardoso, announced the decision on Tuesday at the end of the committee’s 304th meeting in Abuja. Looking ahead, Cardoso said the outlook suggests that “the current momentum of domestic disinflation will continue in the near term,” supported by exchange rate stability and improved food supply. The move followed a 50-basis-point cut implemented in September 2025 and a hold at the previous MPC briefing in November 2025.

Source: Punch February 24, 2026 13:22 UTC