CBN Liquidity Squeeze Meets Resilient Credit Markets as Nigeria Navigates Reform Tightrope

Nigeria's banking sector is flashing green lights that suggest the real economy is more resilient than headline rates imply. CBN's latest Credit Conditions Survey shows banks increased credit availability across all major lending categories in Q2 2026, with the secured lending index jumping to 25.2 points and corporate lending to 20.4. More importantly, loan defaults declined across households and businesses, while banks approved a higher proportion of applications—a...