Banks are generally wary of providing credit to the SME sector due to many issues including lack of collateral and identification. As such, microfinance loans in Nigeria provide the funding needed... read more →
Credit reports in Nigeria still have a way to go to match the efficiency of those in developed nations. The reports play an active role in lending to people with... read more →
Who is offering Online Loans in Nigeria? Online loan providers in Nigeria have become a key way for people and businesses to get easy access to capital. Most banks,... read more →
The National Bureau of Statistics show the average interest rate charged by the commercial banks on a loan at 17.09% in Q3 2016 up from 16.82% in Q1 2016. The... read more →
Nigeria’s 37mn SMEs contribute to economic growth and job creation, but face difficulties accessing credit due to collateral requirements by the banks. SMEs are typically unable to utilize most of... read more →
The total private sector credit issued by Nigeria’s commercial banks increased, from 11.4trn in Q1 2016 to 13.8trn in Q3 2016 according to the National Bureau of Statistics. The provision... read more →
