By: Nghiinomenwa-vali Erastus
Of the 706,275 economic participants who borrowed money from commercial banks by the end of last year, around 555,098 are individuals clients.
Data analysed from the central bank, however, indicates that some of these individual clients are struggling to service N$3.7 billion of the loans extended to them by the banks for more than three months (resulting in non-performing loans).
N$6.8 billion of the loans and advances to the private sector were also not performing.
The data further shows that by the end of 2024, N$115,9 billion (aggregate) was distributed among various businesses, projects, and individuals across different economic sectors.
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