LAGOS — Credit to the private sector fell by N537.6 billion in September to N83.93 trillion, from N84.47 trillion in August, according to data from the Central Bank of Nigeria (CBN). The figure is still about 15.7 per cent higher than in September 2025.

The decline came in the same month that the CBN's Monetary Policy Committee cut its benchmark interest rate by 350 basis points, from 26.5 per cent to 23 per cent. The cash reserve ratio was kept at 45 per cent for commercial banks and 16 per cent for merchant banks.

Broad money supply rose by about N7.51 trillion to N146.6 trillion.