Trends and Important Developments in the Lending Market in Nigeria
...statistics show that credit penetration in Nigeria is among the lowest globally and this has had a negative impact on the country’s economy and contributed to the slow pace of economic development as many businesses and consumers operate with limited or no access to credit facilities...
...Central Bank Nigeria has directed efforts towards the design and implementation of a robust system that addresses information asymmetry in lending transactions, assists lenders to make good credit decisions and, ultimately, improves access to credit for MSMEs and consumers...
... there has been a rise of Fintech operators addressing the peculiar problems of traders and the unbanked population in Nigeria.
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