The Manufacturers Association of Nigeria (MAN) has criticized the average prime lending rates of 27 percent and maximum lending rates of 36.5 percent charged by major commercial banks as of May 2026, labeling them as exploitatively high for the manufacturing sector.

Nigeria's non-performing loans (NPLs) ratio increased to 9.85% in February 2026, nearly double the acceptable threshold of 5%. This rise followed the Central Bank of Nigeria's (CBN) withdrawal of regulatory forbearance, which led lenders to reclassify previously deferred exposures. The information was detailed in the CBN's February 2026 Economic Report released on Wednesday.

The Manufacturers Association of Nigeria (MAN) has confirmed data from Vanguard Newspaper indicating a 22.5 percent decline in bank credit to manufacturers, amounting to N1.9 trillion. MAN expressed concerns that this decline could negatively impact industrial growth, increase unemployment, and hinder policy implementation, attributing the issue to high interest rates and policy gaps.

The Central Bank of Nigeria (CBN) has issued a warning against the abuse of the naira, citing rising costs and a reduced lifespan of the currency. Additionally, the CBN introduced the Naira Ambassadors Club aimed at students to promote awareness and responsible handling of the naira.

New data from the Central Bank of Nigeria (CBN) indicates a significant increase of N17.4 trillion in federal government borrowing, which raises concerns about the growing public sector debt and the potential impact on private sector credit availability.

The Bank of Tanzania (BoT) has raised the central bank interest rate to 6.25%, marking the highest level since the new inflation control system was implemented over two years ago, according to Nukta Africa.