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Nigerian companies to demand more loans in 2018 – CBN
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Nigerian companies to demand more loans in 2018 – CBN

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The Central Bank of Nigeria, Credit Conditions Survey Report has revealed that Companies of all sizes will demand more loans during the first quarter of 2018.

The Apex Bank also added that commercial banks have indicated plans to demand more collateral from customers.

The report also disclosed that the Deposit Money Banks in the country recorded higher default rates on credit card loans and personal and overdraft loans during the last quarter of 2017.

The survey by CBN noted that overall availability of credit to the corporate sector increased in fourth quarter of 2017 and was expected to increase in first quarter of 2018.

The report said this was driven by brighter economic outlook, market share objectives, favourable liquidity conditions and tight wholesale funding conditions.

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