Nigeria Records Rise In Demand For Loans, Says CBN
File: Money

The Central Bank of Nigeria (CBN) has said there is an increase in the number of persons who seek loans in the country.

According to the CBN Q3 report of credit condition survey, the number of people looking out for loans, with or without collateral has risen in the third quarter of 2018.

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It further noted that the proportion of loans request rose despite the maintenance of the same credit requirements by lenders.

Also, the demand for total unsecured lending from households dropped in Q3 but is expected to go up in the next one.

“Lenders reported that the availability of unsecured credit to households decreased in Q3 2018, but it is expected to increase in Q4 2018,” the report said.

“Most lenders adduced higher risk appetite for this increase.”