The high interest rate of the Central Bank of Nigeria has cut banking sector credit to the private sector by N780bn between the months of July and August this year, figures obtained from the apex bank have revealed.
Analysis of the latest money and credit data of the Central Bank of Nigeria by THE WHISTLER showed that Credit to the private sector in August 2024 dropped by 1.03 per cent to N74.73tn from N75.51 which it was in July 2024.
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