...As lending hits record N1.87trn
Nigeria’s microfinance banks (MFBs), originally designed to support the country’s micro, small, and medium enterprises (MSMEs), are shifting their lending priorities towards safer and more lucrative deposit-taking institutions, where they earn higher returns.
The shift to depository corporations has raised concerns about the ability of MSMEs to survive in an increasingly tough economic climate.
A depository corporation is a financial institution that accepts deposits from cus
