Banks lending to the private sector dropped in January, according to the
latest data released by the Central Bank of Nigeria (CBN).
Lending fell by N136 billion as banks chose to store their deposits with the apex bank, reports ThisDay.
The
total amount banks offered as credit to the private sector in January
stood at N16.373 trillion as against the N16.509 trillion they offered
at the end of December 2013.
During the same period, banks’ deposits placed with CBN rose to N3.816 trillion from N3.782 trillion the previous month.
