# CBN lifts the monetary policy rate toward 26.5 percent

Date: 2024

## The fact

Through 2024 the Central Bank under [Cardoso](/people/olayemi-cardoso) lifted the monetary policy rate from an 18.5 percent May 2023 baseline toward 26.5 percent to fight reform-era inflation. Later inflation easing is a child print.

## Context

Naira float sat as parent. Neighbouring wage is a neighbour. He did not sit as MPC.

Naira 14 June 2023 is the parent. Scorecard 2026 inflation easing is a child.

The President of Nigeria heads the federal executive, assents to bills, and sets CBN weather through appointments. He does not write an NNPCL pump print, a World Bank poverty line, an INEC certificate, or a state governor’s FAAC spend by himself. A 2027 ballot is not this page’s completed Fact. Chicago-State certificate weather remains allegation unless a court so holds on its own row.

## Evidence and sources

Central Bank of Nigeria carries the official instrument or communique. The Nation records the same dated act independently.

## Significance

The path is [household purchasing power](/drivers/household-purchasing-power): a completed credit-cost shock aimed at CPI.

## What is established and what is not

Established: 2024 MPR path toward 26.5 percent, independently reported.

Not established: a unique later CPI coefficient from that Tuesday, or that every SME uniquely failed that week.

What would change the picture: a contradictory original with a different date or name, a later repeal, a court that vacated the instrument, or a measured series that can be argued, with lag and alternatives, as a consequence of this instrument rather than of later institutions.

The date is the date of this instrument, not a licence to back-date every later harm or benefit.

He had appointed Cardoso. Borrowers share the cost file.. A later repeal, court stay, or successor order would be a different Fact with a different date. That pair identifies CBN lifts the monetary policy rate toward 26.5 percent, not a later speech about CBN lifts the monetary policy rate toward 26.5 percent.

Co-authors and later implementers named in Context remain on the file. CBN lifts the monetary policy rate toward 26.5 percent on 2024-03-26 is not a licence to treat every later Central Bank of Nigeria communique as this same act. If a later repeal, stay, or successor instrument exists, it needs its own date and its own row. This dossier refuses to average CBN lifts the monetary policy rate toward 26.5 percent into a personality. The contribution described on this Person row is limited to MPC voted. He had appointed Cardoso. Borrowers share the cost file. That limit is the alternative to treating office-holding as authorship of every later series.

## People

- Bola Ahmed Tinubu: https://factrail.ai/people/bola-tinubu

## Drivers

- Household Purchasing Power: https://factrail.ai/drivers/household-purchasing-power
- Fiscal-Policy Sustainability: https://factrail.ai/drivers/fiscal-policy-sustainability

## Sources

- https://thenationonlineng.net/reforms-generated-n15-8trn-says-fg/
- https://www.cbn.gov.ng/

## Methodology

https://factrail.ai/methodology

Canonical: https://factrail.ai/facts/ng-mpr-2024