Banks’ll increase credit to economy in 2022, says CBN

The Governor of the Central Bank of Nigeria, Godwin Emefiele, has said the banking sector will increase access to finance and credit for households in 2022.

Emefiele said this recently in Lagos, according to a statement on Thursday.

“The policy focus of the bank for 2022 is with a pledge to sustain improved access to finance and credit for households and businesses, mobilise investment to boost domestic productivity, enable faster growth of non-oil exports, and support employment generating activities,” he said.

He noted that the country had been able to contain some of the effects of the COVID-19 pandemic on the economy.

He stressed the need for all stakeholders to work to build a more resilient economy that would be better able to contain external shocks, while supporting growth and wealth creation in key sectors of our economy.

According to him, a major lesson from the COVID-19 pandemic was that deliberate efforts must be made to diversify the base of the Nigerian economy.

Emefiele said the country must do everything possible to reduce the importation of goods into the country.

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