Total number of borrowers increased by 47.35% to 2.59 million in 2019

THE National Bureau of Statistics (NBS) has said that breakdown of borrowers in the Banking Industry showed that the total number of borrowers increased by 47.35per cent to 2.59million in 2019 from 1.76million recorded in 2018 while number of credit facilities increased by 55.54per cent to 3.18m in 2019 from 2.04million recorded in 2018.

It also noted that total number of Individuals who registered for National Housing Fund in 2019 stood at 220,935 while total amount of money given out as Mortgage Loans stood at N77.61billion in 2019.

In the Nigerian Selected Banking sector data as at Second quarter (Q2) 2020 released last week, the NBS revealed that total Geographical Distribution of Credit by State stood at N18.90trillion compared to N18.56trillion in the first quater (Q1) 2020 and N15.44trillion in Q2 2019.

This represents 1.82per cent increase in credit Quarter on Quarter and 22.38per cent Year on Year. Lagos State recorded the highest credit by geographical distribution with N14.92trillion accounting for 78.94per cent  while Yobe State recorded the least with N13.8billion accounting for 0.07per cent in Q2 2020.

The total value of loans distributed under the Agricultural Credit Guarantee Scheme Fund (ACGSF) stood at N4.07million in 2019 compared to N4.37million distributed in 2018. This represents  decrease of -7.03per cent Year On year.

Remittance Inflows declined by -2.06per cent in 2019 to $23.81billion from $24.31billion recorded in 2018 while total Remittance Outflows increased by 33.87per cent to $90.6million from $67.68million recorded in 2018.


[BREAKING] #EndSARS: IGP Disbands SARS Across The 36 States

In the finest spirit of democracy and response to the people’s yearnings, the Inspector-General of Police Mohammed Adamu has today, 11th October, 2020, dissolved the Special Anti-Robbery Squad (SARS) across the 36 State Police Commands and the Federal Capital Territory (FCT) where they hitherto existed.

BREAKING: INEC Declares Akeredolu Winner Of Ondo Election

The Independent National Electoral Commission has declared Governor Rotimi Akeredolu as the winner of the 2020 Ondo State Governorship Election.

#OndoDecides2020: I Have Not Withdrawn, Says Agboola

A document titled “Withdrawal from Ondo 2020 gubernatorial race” making the rounds that Mr Agboola Ajayi, the deputy governor and candidate of the Zenith Labour Party(ZLP) in the ongoing Ondo gubernatorial election has stepped down is fake and should be disregarded.

#OndoDecides2020: Pandemonium In Akure Polling Unit As Gunmen Disrupt Voting

Pandemonium erupted in Akure on Saturday morning, as gun-wielding men suspected to be political thugs invaded a polling unit located at unit 4, ward 4, Ijomu/Obanla, in Akure South Local Government Area of the state.

You might also like

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. AcceptRead More