Nigeria, May 26 -- The News Chronicle reports that private sector credit dropped to N80.59 trillion in April 2026 from N94.61 trillion recorded in February, representing a decline of more than N14 trillion within two months.

The latest figures released by the CBN showed that lending activity slowed despite efforts by monetary authorities to stimulate economic growth through a modest rate cut.



While maintaining other crucial monetary policies aimed at fighting inflation and stabilizing the financial system, the central bank lowered the monetary policy rate to 26.5 percent in February.



Analysts think the sharp drop reflects ongoing economic instability, rising borrowing costs, and pressure in the foreign exchange market-all factor...