Nigerian banks have significantly curtailed their lending activities, cutting a substantial N5.4 trillion across several key sectors. This development comes amidst ongoing discussions and differing opinions among stakeholders regarding the Central Bank of Nigeria's (CBN) recent decision to withdraw from the manufacturers' intervention fund.

The CBN's withdrawal from the intervention fund has sparked considerable debate, with various parties expressing contrasting views on its potential impact on the manufacturing sector and the broader economy. The reduction in bank lending further highlights a tightening financial environment for businesses.