Banks’ N1.96trn Black Hole: Who Took the Loans, Who Defaulted, and Why the Real Economy Suffers

By BLAISE UDUNZE Nigeria’s banking sector has entered a season of reckoning. Eight of the nation’s biggest banks have collectively booked N1.96 trillion in impairment charges in just the first nine months of 2025 which represents a staggering 49 percent increase from the N1.32 trillion recorded in the same period of 2024. Behind these figures

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