Nigerian bank lending to the private sector grew marginally to N81.041 trillion in May 2026Data shows that lending to the government increased by 1.97%, pushing total domestic credit to N121.4 trillionCash held outside banks reached a record N5.193 trillion as Nigerians prefer physical cash
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Nigeria’s bank loans to the private sector recorded a slight increase in May 2026, rising by 0.56% to N81.041 trillion from N80.585 trillion in April.
The growth marked a recovery after the decline recorded in the previous month, indicating a modest improvement in borrowing by businesses and households, although credit levels remained below earlier peaks.
Private sector credit rises to N81 trillion but remains below February’s record level Photo: BloombergSource: Getty Images
Recent data from the Central Bank of Nigeria (CBN) showed that private sector credit
