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Private sector lending drops to N16.373tr
28 February 2014, 18:11
Lagos - Banks lending to the private sector dropped in January, according to the latest data released by the Central Bank of Nigeria (CBN).
Lending fell by N136 billion as banks chose to store their deposits with the apex bank, reports ThisDay.
The total amount banks offered as credit to the private sector in January stood at N16.373 trillion as against the N16.509 trillion they offered at the end of December 2013.
During the same period, banks’ deposits placed with CBN rose to N3.816 trillion from N3.782 trillion the previous month.
Read more at ThisDay.
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