The Central Bank of Nigeria, CBN, has retained the country’s Monetary Policy Rate, MPR, at 26.50 per cent for the second consecutive time, following its May and July 2026 meetings.


CBN Governor, Olayemi Cardoso, disclosed this during a media briefing after the 306th Monetary Policy Committee, MPC, meeting in Abuja on Tuesday.

According to Cardoso, all 11 members of the committee attended the 306th meeting, where they reviewed recent domestic and global economic developments before deciding to leave the benchmark lending rate unchanged.


The decision means the CBN has maintained its tight monetary policy stance in a bid to sustain the moderation in inflation, stabilise the foreign exchange market, and consolidate recent macroeconomic gains.

Recall that in May, the MPC also retained the interest rate at 26.50 per cent.


The latest MPR decision by the MPC comes as the country’s inflation eased to 15.91 per cent in June 2026. However, food inflation has remained high across Nigeria.

A former Assistant Director of the Department of State Services, Dennis Amachree, has waded into the conflicting accounts of how the Oyo schoolchildren and their teachers regained their freedom from terrorists.

He said both the captives’ version and the Federal Government’s account of a rescue operation could be true at the same time.

One of the freed teachers had said the terrorists released them before security operatives arrived to take them home.

This differed from the government’s earlier position that the release followed a rescue operation involving arrests, with no prisoner exchange.

Asked how Nigerians should interpret the two seemingly contradictory narratives in an interview with TVC News on Monday, Amachree said the situation on ground was fluid enough to accommodate both.

He explained that the terrorists may have promised to let the captives go even as troops were closing in around them.

“Well both can exist as the truth because see it’s fluid. The situation is very very fluid. You know some of them can say oh we’re almost releasing them and then of course the security agents came in and then did everything,” he said.

He said the terrorists’ hand had effectively been forced before any release took place.

According to him, troops had surrounded the terrorists in the forest and cut off their food supplies and communication links, leaving them with limited options.

He said, “One important thing you have to realize is that the operation itself you know was one that was squeezing life out of the terrorists. They were totally surrounded in that forest and as they’re moving they cut off all their food supplies.

“They cut off all their communication you know links and they were in fact they don’t have much options you know,

“So they could tell you that ‘oh yeah we’re almost releasing them’ but they knew that they’ve lost the game.”

On concerns raised by some Nigerians over how much operational detail security agencies should disclose after such rescues, Amachree said the public should be glad such details were shared at all, noting that similar operations had, in the past, remained classified for years.

He said, “Well I think Nigerians should be happy that we’re even discussing this because some of these things could be classified for years before we hear them. But the DSS is able to come out and even talk about it.”


He said other security institutions had also come forward with information.

“Other people that are in the know are talking about it. The military is talking about it. So at least this just to inform the public because there are a lot of people who are still believing otherwise,” he said.

He said Nigerians who did not believe the security agencies could do what they did should note that terrorists existed and that publicity was one of their major objectives.

He added that publicity remained a key objective for terrorist groups, and cautioned against media coverage, particularly on social media, that plays into that goal. He said the trend needed to change.

“And let me tell you terrorists exist and one of their major objective is publicity. And of course the Nigerian press especially social media now is giving them all the publicity they need.

“And we cannot continue doing that. And I think the military has come out to talk about it because they feel that they should at least tell the Nigerian public what is going on. Otherwise some of these things could be classified for years before they even come to public knowledge,” he said.

Africa’s Global Bank, United Bank for Africa (UBA) Plc, has hosted another impactful edition of its quarterly UBA Business Series, bringing together entrepreneurs, investors, innovators and business leaders to explore how customer insights and technology is shaping Africa’s next generation of high-growth businesses.

Held at the Bank’s corporate headquarters in Lagos under the theme, “Building for Africa’s Realities: Turning Consumer Feedback into Technology-Driven Solutions,” the event examined how African entrepreneurs are leveraging data, consumer behaviour and innovation to build scalable businesses tailored to the continent’s unique realities.

A major highlight of the discussion was the consensus among panellists that financial inclusion, the creative economy, sports, and small and medium enterprises (SMEs) represent the sectors most likely to produce Africa’s next billion-dollar companies.


They agreed that the businesses most likely to succeed will be those that remain deeply connected to the needs and behaviours of their customers.

Moderated by media entrepreneur and founder, Adaora Mbelu, the conversation featured an accomplished panel comprising Co-founder and Chief Executive Officer of Chowdeck, Femi Aluko; acclaimed rapper and entrepreneur, M.I Abaga; and Venture Capitalist/ Co-founder of Octerra Capital, Ashim Egunjobi.

Opening the conversation, Mbelu challenged entrepreneurs to pay closer attention to the realities around them.

“Building is not reserved for the smartest person in the room. It is about being observant enough to understand people, behaviour and context. The greatest opportunities often emerge from paying attention to what others overlook.”

Sharing the Chowdeck growth story, Aluko explained that some of the company’s biggest innovations emerged directly from analysing customer behaviour. He revealed that purchasing patterns within the platform inspired the creation of Chowstore, demonstrating how data can uncover entirely new business opportunities.

“Customers constantly tell you what they need. If you listen carefully, they will show you what to build next.”

Speaking on artificial intelligence, M.I Abaga described AI as a transformative opportunity for Africa’s creative industry rather than a threat. He noted that emerging technologies would enable African creators participate more competitively in the rapidly expanding global creative economy.

“Technology has always been part of creativity. AI gives African creators the opportunity to compete globally, solve bigger problems and build businesses that serve international markets.”

He also observed that the digital era has fundamentally changed how audiences are reached, enabling creators to build direct relationships with their communities while creating demand for stronger financial and business support systems.

Offering an investor’s perspective, Egunjobi emphasised that successful investing begins with backing resilient founders rather than impressive presentations.