August 17, 2025
CBN

 

 

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has raised the benchmark interest rate to 26.25%. This announcement was made by the CBN Governor, Yemi Cardoso, who also serves as the Chairman of the MPC, at the conclusion of the 295th MPC meeting held in Abuja.

In the previous MPC meeting in March, the benchmark rate had been increased by 200 basis points from 22.75% to 24.75%. The MPC has maintained a hawkish stance throughout the year in an effort to combat Nigeria’s persistent inflation.

As of April, Nigeria’s inflation rate had escalated to 33.69%. While some analysts had anticipated a rate hike, others suggested that the CBN might hold the rate steady as the inflation growth rate moderated month-on-month.

Further details on the implications and responses to the new interest rate will be provided as they become available.

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