business
BREAKING: CBN cuts interest rate to 26.5%
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.
Cardoso said, “The Committee decided to reduce the monetary policy rate by 50 basis points to 26.5%.”
The move followed a 50-basis-point cut implemented in September 2025 and a hold at the previous MPC briefing in November 2025.
The PUNCH observed that the MPC’s decision to cut rates occurred as Nigeria’s headline inflation eased to 15.10% in January 2026.
– Culled from The PUNCH
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