Why are Nigerian banks generally reluctant to fund agriculture projects?
The issue is not Nigerian banks’ reluctance to fund agricultural projects but the reluctance of agricultural borrowers to borrow at the rates and terms at which credit is available. What progress has Nigeria’s banking sector made in the area of electronic banking? Post consolidation, Nigerian banks have successfully deployed various e-banking channels including the globally secure chip and pin technology, point-of-sale (POS) and internet banking services. It is anticipated that over time these channels will improve both in efficiency and security as there have been huge investments by banks in their e-business segments. The e-banking segment has witnessed tremendous growth in all payment channels (internet, mobile banking, ATM and telephone banking) currently in use as is evident in the number of ATMs and POS machines deployed, about 8,000 and 12,400 machines respectively, in the last 3 years. The usage and acceptance of these channels of payment will continue to increase in major citi
Related Questions
- Can applications be made for projects to fund organisation operational costs (such as: staffing positions, consultants, advertising or training)?
- What size of grant can I apply for? Is there still enough money available to fund larger projects?
- Does the Endowment fund projects that have already begun?
