Industry & Money

Credit to Private Sector Depreciated to ₦71.21tr

The Central Bank of Nigeria (CBN) has disclosed that banks’ credit to the private sector declined by 12 per cent month-on-month in March 2024 to N71.21 trillion.

However, the CBN said March 2024 saw a 65.54 per cent year-on-year increase compared to N43.01 trillion recorded in March 2023.

The CBN who disclosed this in its money and credit statistics noted that credit to the government declined YoY by 28.83 per cent from NN27.52 trillion in March 2023 to N19.58 trillion recorded in March 2024.

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