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Banks not lending enough, CBN declares

The Central Bank of Nigeria CBN yesterday confirmed fears that banks were not lending enough to grow the economy.
A communique issued by the apex bank after its Monetary Policy Committee meeting in Abuja said that the low level of lending of banks to the private sector reflected the risk aversion of banks to lending to non government borrowers stating that further efforts are needed to unlock the credit market in order to enhance the flow of credit to the real economy.

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