Election Uncertainties Trigger Increase In Consumer Loans to N2.45trn   Banks increased consumer loans to N2.45 trillion in February 2023, up by 5.6 per cent from N2.32 trillion in December 2022. Financial industry experts attributed the development to an increase in demand occasioned by apprehension about the...

Banks’ Consumer Loans Increases By 31% To N2.55trn On Rising Inflation     On the back of rising inflation rate in Nigeria, banks’ consumer loans rose by 31 per cent or N615.82 billion in one month to N2.55trillion in July 2022 from N1.93trillion in June 2022, the...

Consumer Loans Rise By 37%, Now N2trn   The upward trend in consumer loans persisted as at October last year, rising 37 per cent, year-on-year, YoY, to N2 trillion, driven by improved credit appraisal and products diversifications offered by banks and other lenders. Volume of consumer...

Pressure On Banks Over Consumer Loans Money Market         A Central Bank of Nigeria, CBN, Survey Report has shown that banks experienced higher loan default rates on credit cards and overdrafts/ personal lending to household in the third quarter of the year (Q3’20). The survey also noted...