LAGOS — The average maximum lending rate charged by Nigerian banks fell to 29.2 per cent in August 2026 from 33.16 per cent in July, according to Central Bank of Nigeria data. It had peaked at 35.17 per cent in February. The average prime lending rate, offered to the best borrowers, fell to 17.86 per cent from 19.06 per cent. Rates still vary widely between banks.