Bank lending rises above pre-recession record
BANK lending rose above its pre-recession record for the first time in November, as loans to businesses picked up slightly after a two-month decline and consumer housing loans continued to expand.
Bank lending should rise significantly in the second quarter of the financial year once the April 2011 elections, which have prompted a slowdown, are over, according to Bisi Onasanya, group managing director and chief executive officer of First Bank Nigeria.