What borrowing in Nigeria actually costs — bank loans, loan apps, cooperatives, interest rates, and the true APR behind the advertised number.
Putting a December bonus towards a loan can save real money, or nothing at all. It depends on how your loan charges interest. Here are worked examples for a bank loan and a flat-rate loan, and the questions to ask your lender first.
The CBN cut its benchmark interest rate from 26.5% to 23% on 22 September 2026, its biggest move in this easing cycle. Here's what changes for anyone with a loan, anyone about to borrow, and anyone with money in a fixed deposit.
Nigerian loan apps quote a fee for 30 days or a 'flat monthly rate', never an annual one. Here's the arithmetic that turns those numbers into a comparable APR — and why a 10% monthly charge is not a 10% loan.
Nigerian lenders quote interest two completely different ways, and the difference is close to double. Here's the arithmetic on a ₦1,000,000 loan, and how to convert any flat rate into the number you can actually compare.
September resumption is weeks away and fees are due. Before you take a school fees loan, here's the real cost of each option — the interest-free federal student loan, bank loans, loan apps — with the math most lenders won't show you.
The CBN's Monetary Policy Committee held the MPR at 26.5% at its July 2026 meeting — the third meeting in a row at this level. Here's what the number actually is, why it's being held, and what it means for anyone borrowing, saving, or watching the naira.
Personal loans, salary advances, digital lending apps, cooperative thrift societies, SME loans — here's how the real cost of borrowing compares across each, and the rate trap to watch for.