CBN MPC Meeting Outcome: Interest Rates Held at 27% Despite Inflation Drop to 15.1%

MPC Meeting Outcome: CBN Holds Rate at 27% Amid 15.1% Inflation Drop

By [Ohizu Chibuike Paschal] | February 24, 2026

The Central Bank of Nigeria (CBN) has concluded its highly anticipated 304th Monetary Policy Committee (MPC) meeting today, February 24, 2026. In a move that surprised some analysts calling for a cut, the committee voted to hold the Monetary Policy Rate (MPR) at 27.00%.

The Numbers: Why the Hold?

Despite headline inflation falling significantly to 15.1% (a major drop from the 34.8% seen in late 2024), Governor Olayemi Cardoso emphasized a "cautious approach" to ensure price stability is permanent.

• MPR: Retained at 27.00%
• CRR: Kept at 45.0% to mop up excess liquidity.
• Liquidity Ratio: Unchanged at 30.0%.

The Naira Factor 

The committee noted that the Naira has shown resilience, trading at approximately ₦1,346/$ at the official window. However, recent black market fluctuations—hitting ₦1,370/$ this week—remain a concern for the apex bank.

Expert Opinion: Is the CBN being too careful? Many business owners in Lagos and Kano were hoping for a rate cut to lower interest on bank loans. This "hold" means borrowing remains expensive for now.

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