Total assets of Nigerian banks increased by N8.25 trillion to N59.24 trillion at the end of 2021. As of the end of 2020, the total assets of the country’s lenders had reached 50.99 trillion.
According to the CBN, Kingsley Obiora, a member of the MPC, stated that “the banking system maintained its soundness, safety, and resilience amid economic recovery.”
“The total asset of the banking industry increased from N50.99tn from end-December 2020 to N59.24tn, representing an increase of 16.18 per cent, driven by balances with CBN/banks, OMO bills, and credits.”
This came as another member of the MPC, Robert Asogwa, said “The banking industry asset base increased by 16.17 per cent from 50.9tn naira at end 2020 to 59.2tn naira at end 2021.”