Nigeria’s outstanding consumer credit dropped by 19.89 percent to N3.78 trillion in 2025, marking the first annual decline in six years as high interest rates weakened household borrowing.
The News Chronicle reports that the Central Bank of Nigeria’s 2025 annual report also showed a 38.4 percent increase in bank verification numbers flagged for fraud, rising from 9,476 to 13,117.
Personal loans fell to N1.85 trillion, while retail lending jumped 63.77 percent to N1.94 trillion. Retail loans consequently accounted for 51.16 percent of total consumer credit, overtaking personal lending.
Consumer credit also declined as a share of private sector lending, falling to 6.6 percent from 7.98 percent in 2024.
The CBN said the increase in fraud-related BVNs reflected stronger monitoring and resolution efforts across the banking industry.
BVN registrations also continued to expand, reaching 67.82 million from 64.4 million. Accounts linked to the system rose to 368.92 million, while active accounts increased to 339.26 million.
The figures point to tighter household borrowing conditions alongside continued efforts by banks and regulators to strengthen fraud controls and improve the integrity of Nigeria’s financial system.
