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Nigerian Banks need 4%-5% growth to avoid bad-debt spike, EFG says

Nigeria’s economy is poised to expand at less than half the pace needed by banks next year to avoid a spike in unpaid loans. The 2021 outlook for sub-Saharan Africa’s largest economy was cut to the growth of 1.7% by the International Monetary Fund on Tuesday, compared with a June forecast of 2.6%. That’ll make…

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