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 of credit stimulates and accounts for a statistically significant variation in economic growth in Nigeria due to the underdeveloped capital markets. As such the increase in credit does not correlate with the three consecutive quarters of contraction that has placed the Nigerian economy in a
Loan Guide
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