• Why banks don’t give long term loans – Fidelity Bank MD explains

    Why banks don’t give long term loans – Fidelity Bank MD explains

    The inability of commercial banks to give long-term credit facilities is due to the non-availability of long-term-deposits by Nigerians, a financial expert, Nnamdi Okonkwo, has said.

    Okonkwo, also the Managing Director of Fidelity Bank Plc, made the remark at a conference organised by the Finance Correspondents Association of Nigeria in Lagos.

    The theme of the conference was: “Nigeria beyond Oil, Financing Options for Non-Oil Exports.”

    Okonkwo said most depositors who had huge amounts to save did it on short-term basis because of uncertainties […]