The Central Bank of Nigeria has released the latest lending rates for Access Bank, United Bank for Africa, GTCO and other Nigerian commercial and merchant banks as at January 9, 2026, as part of efforts to promote transparency and guide borrowing decisions.
The rates, which are categorised by sectors including agriculture, mining, manufacturing, real estate and public utilities, show the prime and maximum lending rates applicable across Deposit Money Banks and merchant banks.
According to the CBN, the disclosure aligns with its policy direction to strengthen monetary policy transmission, support economic recovery and sustain disinflation in the economy. The apex bank said making lending rates publicly available would help businesses and individuals better understand the cost of credit.
Banks’ lending rates continue to vary based on customers’ creditworthiness. The maximum lending rate applies to borrowers with lower credit ratings, while the prime lending rate is offered to customers with strong credit profiles.
In a statement, the CBN said the decision followed its transparency and full disclosure stance, noting that the Monetary Policy Committee approved the public release of lending rates obtainable in all Deposit Money Banks to guide business decisions.
The full list of applicable lending rates for each bank as of January 9, 2026, is contained in a document published by the CBN and can be accessed here. For small and medium-sized enterprises, the publication of sector-based lending rates provides clearer insight into financing conditions and could help business owners compare loan options and assess borrowing costs.
In a related development, customer deposits in Nigerian commercial banks continued to grow despite economic challenges. Data from the Nigerian Exchange Group shows that deposits rose to N150.3 trillion in the first half of 2025, compared with N137.5 trillion recorded at the end of 2024.
Deposits remain a key asset for banks, providing the primary source of funds for lending and other financial sector investments.
