The Central Bank of Nigeria’s most recent statistics show that between August 2021 and August 2022. The assets of Nigerian banks increased by N10 trillion, reaching N66.76 trillion.
The CBN stated that the banking industry maintained its resilience in the face of economic headwinds in Kingsley Obiora’s personal statement, a member of the Monetary Policy Committee.
In spite of these challenges, the financial sector remained solid, secure. And robust despite sluggish economic development, it was noted.
From N56.04 trillion in August 2021 to N66.76 trillion in August 2022, the total assets of the banking sector increased by N10. 72 trillion, or 19. 13 percent, as a result of balances with the CBN and banks, investments, and increased lending to the real sector. At the end of August 2022, the industry’s non-performing loan ratio was 4.8%, according to him.