According to the recent Depository Corporation survey report by the CBN, credit to Nigeria’s domestic economy dropped by 6.41 percent to N25.71 trillion in May, driven by decline in credit to the government and to the private sector. The Chairman of First Bank Ibukun Awosika, last week said that only 100 BVNs account for 60 per cent of bank loans. Chidinma Lawanson, Financial Services Consultant joins CNBC Africa to discuss what needs to be done to improve bank lending to the private sector.
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