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CBN INTEREST RATES
The Central Bank of Nigeria (CBN) sold N2.628 trillion in Open Market Operations (OMO) bills at its October 22, 2026 auction, exceeding its initial N2 trillion offer by N628.52 billion, or 31.43%, as stop rates increased across both tenors, signaling resumption of rates increase.
Nigerian banks increased lending to traders in the first half of 2026, while manufacturers saw a sharp drop in outstanding bank credit.
Lawmakers have cautioned the Central Bank of Nigeria (CBN) against raising interest rates beyond the current figure of 27.5% in its bid to curb inflation.
The Nigerian naira showed little strength at the last trading session of the week, appreciating to below N1600 amid a volatile dollar index in global markets.