10 Compelling SME Financing Startups in Nigeria

On July 9, the Nigerian central bank issued a directive to all banks regarding their loan to deposit ratio. This directive obliges banks to have a minimum loan-to-deposit ratio of 60% by the end of September. It is intended to force banks to lend more to the real economy and buy fewer government securities. It is expected that this move will encourage lending to small and medium-sized businesses (SMEs) by overweighting these loans.

This is not the first time the government has aimed to encourage lending to SMEs. Research notes that the country h ...

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