JUST IN: CBN Holds Benchmark Interest Rate at 27%

The Monetary Policy Committee of the Central Bank of Nigeria has retained the benchmark interest rate at 27 per cent, extending its pause on monetary tightening.

CBN Governor, Olayemi Cardoso, announced the decision on Tuesday at the end of the MPC’s 303rd meeting in Abuja.

According to him, “The Committee decided by a majority vote to maintain the monetary policy stance,” noting that members were not fully convinced that prevailing economic indicators were strong enough to justify another rate cut.

The Tuesday’s decision comes after a 50-basis-point reduction in September 2025 indicating the only rate cut recorded since the current tightening cycle began under the Cardoso-led administration.

This decision also marks the fourth consecutive pause in 2025.

More coming….