Credit by banks to the private sector increased year-on-year by N288 billion to N17.252 trillion as at the end of July 2014, compared to the N16.964 trillion it stood at the end of June 2014.
The current value showed that banking system credit to the private sector has risen by a total of N483 billion in the last two months, compared to the N16.769 trillion it was as at the end of May 2014.
The Central Bank of Nigeria (CBN) revealed this in its latest money and credit statistics for July, stating that this may rise further following the implementation of the N220billion micro, small and medium enterprises (MSME) fund.
http://www.thisdaylive.com/articles/credit-to-private-sector-rises-to-n17-252tn/188026/
