The Central Bank of Nigeria (CBN) said personal loans issued by Nigerian banks rose to N1.96 trillion in January 2026, accounting for more than half of total consumer credit.

According to the CBN Economic Report published on its website, total consumer credit increased by 0.79% to N3.81 trillion in January, compared with N3.78 trillion in December 2025. The growth was driven entirely by higher personal lending.

The apex bank also reported that the value of personal loans increased by 5.95% during the period.

The report reads: "Consumer credit outstanding increased by 0.79% to N3.81tn. The increase was solely driven by the rise in personal loans by 5.95% to N1.96tn, which constituted 51.44% of total consumer credit."

Punch reports that retail lending decreased by 4.15% to N1.85 trillion, which stood for 48.56% of consumer credit.

Below are the latest prime and maximum lending rates:

Meanwhile, the CBN has released the latest lending rates for all commercial banks and merchant banks.

Prime lending rates are usually offered to customers with strong credit profiles and low risk, while the maximum lending rates apply to customers with lower credit ratings or higher risk.

Access Bank - Prime: 25.50%, Max: 32.00%

Alpha Morgan Bank - Prime: 27.00%, Max: 33.00%

Citi Bank - Prime: 19.00%, Max: 20.00%

Coronation Merchant Bank - Prime: 22.00%, Max: 33.00%

Ecobank - Prime: 26.75%, Max: 48.00%

Quest Merchant Bank - Prime: 5.00%, Max: 32.50%

FCMB - Prime: 31.00%, Max: 46.00%

Fidelity Bank - Prime: 30.00%, Max: 36.00%

First Bank Of Nigeria - Prime: 26.00%, Max: 38.00%

Fsdh Merchant Bank - Prime: 25.00%, Max: 33.00%

Globus Bank Ltd - Prime: 28.50%, Max: 33.00%

Greenwich Merchant Bank - Prime: 23.60%, Max: 29.50%

Guaranty Trust Bank - Prime: 21.00%, Max: 32.00%

Keystone Bank Ltd - Prime: 30.50%, Max: 36.00%

Nova Bank - Prime: 30.00%, Max: 19.61%

Optimus Bank - Prime: 28.50%, Max: 35.00%

Parallex Bank - Prime: 30.00%, Max: 32.50%

Polaris Bank - Prime: 29.00%, Max: 39.90%

Premium Trust Bank - Prime: 28.00%, Max: 36.00%

Providus Bank - Prime: 26.50%, Max: 35.00%

Rand Merchant Bank Nig. Ltd - Prime: 20.00%, Max: 20.00%

Signature Bank - Prime: -, Max: -

Stanbic Ibtc - Prime: 1.00%, Max: 60.00%

Standard Chartered Bank - Prime: 27.00%, Max: 29.00%

Sterling Bank - Prime: 26.00%, Max: 33.50%

Suntrust Bank - Prime: 22.00%, Max: 37.00%

Tatum Bank - Prime: 40.63%, Max: 45.63%

United Bank For Africa - Prime: 28.50%, Max: 32.00%

Union Bank - Prime: 16.95%, Max: 38.00%

Unity Bank - Prime: 30.00%, Max: 38.00%

Wema Bank - Prime: 32.50%, Max: 34.50%

Zenith Bank - Prime: 24.06%, Max: 32.00%