The non-performing loans (NPLs) in the country’s banking industry have reportedly declined further below the regulatory threshold of 5% to 4.25%, according to the Central Bank of Nigeria (CBN).
Also, from N59.24 trillion in December 2021 to N73.59 trillion in December 2022, the total assets of the banking sector increased by N14.36 trillion, or 24.24 percent.
Total gross credit grew as a consequence, from N24.57 trillion in December 2021 to N29.72 trillion in December 2022, by N5.14 trillion, or 20.93%, because to the expansion of the industry’s funding base and the CBN’s LDR directive, which urged banks to expand lending to the real economy.
