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

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

Kayode Tokede

With the Monetary Policy Rate (MPR) retained at 26.50 per cent by the Central Bank of Nigeria (CBN), the banking sector’s average maximum lending rate remained flat at 35.17 per cent in March 2026.

Maximum lending rate is the highest permissible interest rate that lenders can charge borrowers. It is often defined as the rate that is one percentage point above the benchmark prime lending rate, which is determined by the CBN .

The rate is crucial for ensuring fair lending practices and protecting borrowers from excessive interest rates.