A member of the Monetary Policy Committee, Dr Rafindadi Sanusi, disclosed this in his presentation during the last MPC meeting of the Central Bank of Nigeria.
He said, “Total assets of the industry have grown from N38.57tn in November 2019 to N42.89tn in February 2020.”
He said, “Review of the banking system stability report shows that the banking system continues to be stable and resilient.“Total credit to the economy has also continued to increase from about N15.69tn in February 2019 to N17.62tn in February 2020.” Sanusi listed some of the interventions by the Central Bank of Nigeria to mitigate the adverse effects of COVID-19 pandemic on the economy.
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