Banks face pressure to turn N4.65tn recapitalisation into business loans
Nigerian banks are under pressure to use the 4.65 trillion naira raised during recapitalization to increase loans for businesses. There are concerns that these stronger capital bases have not yet provided the financing required to grow domestic production. Tayo Aduloju, the CEO of the Nigerian Economic Summit Group, specifically mentioned bank credit for manufacturers.
Nigerian banks are facing pressure to translate the N4.65tn raised through the recapitalisation exercise into increased lending to businesses, particularly manufacturers, following concerns that stronger capital bases have yet to deliver the financing needed to expand domestic production. The Chief Executive Officer of the Nigerian Economic Summit Group, Tayo Aduloju, said bank credit to manufacturers Read More: https://punchng.com/banks-face-pressure-to-turn-n4-65tn-recapitalisation-into-business-loans/