Lagos - Nigerian lending growth accelerated in 2013 as private sector banks expanded their loan books in the wake of a decline in defaults, Central bank of Nigeria’s latest monthly data showed on Wednesday.
Loan disbursements by Nigerian banks rose to N16.5 trillion in December, from N15.15 trillion as at December 2012, reports Leadership.
The data showed that lending was highest in the third quarter of 2013 when a total of N590 billion credits was extended to the private sector.
Bank lending in the first, second and third quarter of 2013 stood at N112 billion, N431 billion and N223 billion respectively.
Read more at Leadership.