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BANK LOANS IN NIGERIA
According to data from the Central Bank of Nigeria (CBN), about a third of loans by Nigerian banks were given to oil firms.
Based on CBN's report, Prime Lending Rate and the Maximum Lending Rate declined 0.3ppts and 1.2ppts respectively to 15.0% and 30.0% respectively in Q4 2019.
Total non-performing loans (NPL) at the end of April stood at N1.69 trillion. According to the latest report, the oil sector accounts for over 60% of the total loan. Also, non-performing loans constitutes 10.83% of total gross loans.
The Sokoto State Governor, Aminu Waziri Tambuwal yesterday stated that Nigerian banks are inadvertently stifling the growth of Small and...