Key figure
Direct answer
Nigeria's current interest rate is 26.5%.
The Central Bank of Nigeria cut the Monetary Policy Rate to 26.5% on February 24, 2026. That is the main policy rate people usually mean when they ask for Nigeria's interest rate today.
Current MPR
26.5%
CBN MPC decision of February 24, 2026
Last move
-50bps
Down from 27.0% in November 2025
CRR
45%
For deposit money banks
Liquidity ratio
30%
Unchanged in the latest decision
What this means
The CBN cut the MPR to 26.5%, which means monetary policy is slightly less tight than it was in late 2025.
But 26.5% is still a very high policy rate by Nigeria's recent standards, so borrowing conditions remain expensive and financial policy is still restrictive.
In simple terms: the CBN has eased a little, but it has not shifted to cheap money.