Banks slash lending, cut N5.4trn across key sectors

🇳🇬 Vanguard Nigeria (NG) —
Banks slash lending, cut N5.4trn across key sectors

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Nigerian banks have significantly reduced lending by N5.45 trillion to critical sectors including oil and gas and ICT. This contraction in credit could impact economic growth prospects in key industries across Nigeria.

Banks slashed lending to oil and gas, information and communication technology (ICT) and six other key sectors of the economy by N5.45 trillion The post Banks slash lending, cut N5.4trn across key sectors appeared first on Vanguard News.

Markets Deals bank lending Nigerian economy oil and gas ICT sector credit reduction financial services

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