At 35.17%, Maximum Lending Rate Remains Flat for Second-consecutive Month

The Central Bank of Nigeria has maintained the Monetary Policy Rate at 26.50 percent, resulting in the banking sector's average maximum lending rate holding steady at 35.17 percent for the second consecutive month. This decision reflects the CBN's ongoing strategy to stabilize the financial environment amidst economic fluctuations. The unchanged lending rate indicates that banks are continuing to offer loans at the same cost, which may impact borrowing trends and economic activity in the country.

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