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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Replying to Asuquo: "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..."

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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