Nigerians turn to loan apps as inflation bites

Trust, credit, and credibility: The unseen engine of the lending ecosystem by Prof Prisca Ndu

Nigerians are turning to loan apps as a means of coping with the challenge of rising food inflation. A study by SBM Intelligence found that 27 percent of Nigerians across different income categories now resort to loan apps to keep up with their living expenses in the wake of record inflation.

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