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Tag: Credit

featured Finance

Consumer credit falls for first time in six years

Nigeria’s consumer credit declined for the first time in six years, falling by 19.89 per cent to N3.78tn in 2025 from N4.72tn a year earlier, as elevated interest rates dampened household borrowing, according to the Central Bank of Nigeria. The decline, disclosed in the CBN’s 2025 Annual Report and Statement of Accounts, ended a growth […]

Finance

Private sector credit rises to ₦83.26trn in June

Credit to Nigeria’s private sector rose to N83.26 trillion in June 2026 from N81.04 trillion in May, according to the latest data from the Central Bank of Nigeria. The increase represents a month-on-month rise of about N2.22 trillion. Year-on-year, the figure represents a 9 per cent increase compared with the N76.13 trillion recorded in June […]

Finance

Consumer credit falls ₦780bn despite improved banking liquidity

Nigeria’s consumer credit outstanding fell by N780 billion in February 2026, as elevated lending rates and tighter borrowing conditions weighed on household demand for loans despite easing monetary conditions and stronger banking system liquidity. Data contained in the Central Bank of Nigeria’s February 2026 Economic Report showed that total consumer credit declined by 20.48 per […]

Business

Only 6% of Nigerians access formal credit despite rising inclusion

Nigeria’s Credit Landscape Report 2025 has revealed a significant gap in the country’s financial system, showing that despite rising levels of financial inclusion, only about six per cent of adults currently obtain credit from formal financial institutions. The report, published by Credit Direct in June 2026, noted that more than 64 per cent of Nigerian […]

featured Finance

Nigerians, others borrowed $3.18bn airtime credit in 2025 — Optasia

Mobile phone subscribers in Nigeria and other emerging markets borrowed airtime worth $3.18bn on credit in 2025, with Africa accounting for more than 94 per cent of the total, according to the latest financial statements of fintech firm Optasia. The PUNCH reported that the company’s 2025 consolidated financial statements showed that airtime advances granted through […]

Economy

Nigeria’s credit expansion crosses historic N100tr mark

Credit to the Nigerian economy crossed the N100 trillion threshold for the first time, rising by 1.7 per cent month-on-month to N100.98 trillion in November from N99.2 trillion recorded in October. The growth was largely driven by a significant increase in credit to the government, which expanded by 6.4 per cent month-on-month to N26.4 trillion […]

Business

Private sector credit surged by N1.8tr in October

Private sector credit surged by N1.88 trillion in October 2025, a sharp 2.60 per cent monthly increase that marks the strongest growth of the year, according to Central Bank data. The N1.88 trillion increase marks a 2.60 per cent month-on-month surge, the strongest growth recorded in 2025. This surge followed the Monetary Policy Committee’s decision […]

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