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Non-performing loans in banking sector hit N2.3trillion
By Udeme Clement
Facts emerged that Non Performing Loans, NPLs, in the banking sector of Nigeria’s economy have increased speedily to N2.3trillion.
Financial Business learnt that the data released by National Bureau of Statistics, NBS, shows that Non- Performing Loans in the third quarter of 2018 fiscal year increased to N2.3 trillion.
The Data from NBS further revealed that NPLs in banking sector stood at N1.9 trillion by the second quarter of 2018 economic year.
The record from NBS also shows that NPLs increased by N400 billion from N1.9 trillion in the second quarter of the year to N2.3trillion, in the third quarter of 2018.
Therefore, the rise in NPLs from N1.9 trillion to N2.3trillion in the third quarter of 2018, shows 21 percent increase.
