Banks’ Maximum Lending Rate Drops to 33.16% as CBN Sustains Monetary Policy, Costs of Borrowing Remain High
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Kayode Tokede
The average maximum lending rate charged by Nigerian banks declined to 33.16 per cent in June 2026, easing from 34.78 per cent in May, as the Central Bank of Nigeria (CBN) sustained its monetary policy pause amid improving macroeconomic conditions.The latest Money Market Indicators released by the apex bank showed that although borrowing costs remained high, the moderation in banks’ maximum lending rates coincided with the Monetary Policy Committee’s (MPC) decision t
The average maximum lending rate charged by Nigerian banks declined to 33.16 per cent in June 2026, easing from 34.78 per cent in May, as the Central Bank of Nigeria (CBN) sustained its monetary policy pause amid improving macroeconomic conditions.The latest Money Market Indicators released by the apex bank showed that although borrowing costs remained high, the moderation in banks’ maximum lending rates coincided with the Monetary Policy Committee’s (MPC) decision t
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