95% bank debtors borrowed from MFBs in 2024 – CBN

The Central Bank of Nigeria has revealed that 95.66 per cent of bank debtors borrowed from microfinance banks as of September 2024. This dominance highlights the critical role of MFBs in the country’s lending ecosystem, particularly for individuals and small businesses. Out of the 6,537 total debtors recorded across all creditor types, 6,253 were linked