NIGERIA, Nov. 27 -- The N1.88 trillion increase represents a month-on-month expansion of 2.60 percent, marking the strongest lending momentum seen so far this year.



The surge came immediately after the Monetary Policy Committee lowered the benchmark interest rate by 50 basis points to 27 percent in September, the first time the rate had been reduced in five years. The move followed easing inflationary pressures and a more stable foreign exchange environment.



At the Committee's November meeting, the rate was retained, while adjustments were made to the corridor around the MPR to discourage banks from holding excess liquidity with the CBN. Policymakers signalled that they remain cautious about balancing inflation control with credit...