Private sector debt hits N76tn as interest rates soar

Nigeria’s private sector borrowed an additional N1.89 trillion from banks in November 2024, bringing total credit to N75.96tn. This was a significant increase from N74.07tn recorded in the previous month despite persistent interest rate hikes by the Central Bank of Nigeria under the leadership of Governor Yemi Cardoso. The rise in borrowing highlights the private Read More

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