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Assets Of 882 Microfinance Banks Hit N1.35tn
According to a report by the Central Bank of Nigeria on ‘Microfinance Banks’ Account Assets’ quarterly, the total assets of Nigeria’s microfinance banks increased to N1.35 trillion by the end of September 2021. This is from N856.3 billion recorded in September 2020. Also, figures obtained from the CBN on ‘List of Licensed Microfinance Banks’ showed…
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MFBs Grew Loan To N547bn In 2020
The National Bureau of Statistics has reported that Microfinance Banks in Nigeria recorded an 82 percent boost in lending in 2020. This is rising from N300.2 billion lending in 2019 to N546.6bn. According to NBS, microfinance loans to the private sector was N250bn in 2018, but has doubled in two years. The report attributed this…