Nigeria's banks lend ₦10 to corporations for every ₦1 to retail customers despite ₦89.9T in deposits
Nigeria's top four banks lent ₦10 to corporations for every ₦1 given to retail customers in 2025, despite holding ₦89.9 trillion in customer deposits mostly from everyday savers. GTCO, Access, UBA and First Bank directed only 10.5% of loans to individuals while 89.5% went to oil/gas, manufacturing and telecom firms.
This lending gap exists even as 64% of Nigerians are financially included, with just 6% accessing formal credit—a discrepancy EFInA warns hinders entrepreneurship and consumption. While banks favor corporates for lower risk and higher returns, digital lenders like Sycamore (₦20B) and FairMoney (₦150B) are filling the void for overlooked consumers and small businesses.
With 505 FCCPC-approved digital lenders now operating and consumer credit at ₦3.81 trillion (Jan 2026), will you rely on traditional banks for loans or explore fintech alternatives given their faster approval and alternative credit scoring?