With economic conditions getting tighter, banks appear to be figuring out that it’s time to get looser. Lending conditions, particularly for businesses, are finally beginning to thaw after five years of financial lockdown, according to the latest Fed Senior Loan Officer survey. Though banks are still hesitant to lend to […]
Tag: Banks
Banks Enforce KYC Requirements for Non-financial Businesses
Deposit Money Banks (DMBs) have warned that restriction will be placed on the accounts of Designated Non-financial Businesses and Professions (DNFBPs) operators that failed to comply with the Know-Your Customer (KYC) requirement of the Central Bank of Nigeria (CBN). The CBN’s deadline for compliance with the KYC update by the […]
Nigerian banks increase lending to private sector
Indications have emerged that Deposit Money Banks have increased their appetite for lending to the private sector. The banks have led the way in Africa’s syndicated loan market so far this year, with more than $10bn of deals signed in the market. For instance, MTN Nigeria last week agreed to […]
