04/06/2024
A few weeks ago, I was on ARISE TV NewsAriseTV to discuss the Credit ecosystem in Nigeria and how Non-Performing Loans (NPLs) are one of the biggest albatross to the financial stability of traditional financial institutions.
Just yesterday, I wrote an article for Technext on the same issue, where I delved extensively into the current realities of the consumer lending and credit ecosystem in Nigeria, currently.
CBN just revoked the banking license of Heritage Bank, and one of the biggest factors behind the bank’s financial instability is Non-Performing Loans. Industry watchers know that this is not peculiar to Heritage Bank. While Credit Access is an important driver of economic growth, it is critically urgent to rethink Nigeria's Lending and Credit System.
Read the full article here:
Accessing credit from traditional financial institutions for the average Nigerian can be tough. Salary earners, entrepreneurs, and traders face similar barriers to credit, hindering their ability to seize opportunities