CBN urges banks to turn N4.65tn capital into productive loans

The Central Bank of Nigeria (CBN) has urged banks to convert the N4.65tn raised under the recapitalisation programme into productive loans that support businesses, infrastructure, and economic growth. Deputy Governor, Corporate Services, CBN, Dr Muhammad Abdullahi, stated this at the 38th Seminar for Finance Correspondents and Business Editors in Abuja.

Abdullahi emphasized that the success of the recapitalisation exercise should be measured beyond the amount of capital raised, considering how stronger balance sheets translate into productive lending and improved services for various sectors like agriculture, manufacturing, services, and infrastructure.

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