Nigerian commercial banks increased private sector lending by N30 trillion (65.9%) to N74.31 trillion in May 2024, as per CBN.
Nigerian commercial banks have raised lending to the private sector by N30 trillion, a 65.9% increase to N74.31 trillion in May 2024, according to the Central Bank of Nigeria (CBN). This growth in lending is attributed to the strong balance sheets of banks and is seen as a boost for the economy, with experts linking credit to the private sector and economic growth.
July 15, 2024
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