Is this just how banking works everywhere, or are Nigerian borrowers getting the short end of the stick?

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https://nairametrics.com/2026/06/10/imf-says-nigerian-banks-raise-lending-rates-faster-than-they-cut-them/

The IMF says Nigerian banks are quick to increase lending rates when interest rates go up, but much slower to reduce them when conditions improve.

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Banks will tell you it's about managing risk. Funny enough, the risk seems to rise immediately when rates go up, but disappears very slowly when rates come down.

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To be fair, Nigerian banks are operating in a pretty volatile environment. If inflation can spike again next quarter, they're probably hesitant to cut rates too fast.

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