Rising interest rates have driven loan defaults, raising banks' impairment charges by 69 percent in the first half (H1) of 2023 when compared with the corresponding period of 2024.
According to data tracked by BusinessDay, the net impairment charges of six banks in H1 of 2024 hit N648 billion, re
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David Olujinmi
David Olujinmi is a financial journalist, with a knack for reporting and analysing the capital markets. He has experience in reporting the Nigerian and African financial scene.
With a Bsc in Chemical Engineering from the Obafemi Awolowo University, he has a significant grasp of numbers that has aided his understanding of the financial context.
