Nike PopoolaSterling Bank Plc has said it is extending loans from its ‘Specta’ product to non-bank customers and business owners. To enhance retail lending, the bank also said it was aiming to give out loans worth N40bn in 2019. The Divisional Head, Retail and Consumer Banking, Sterling Bank, Mr Shina Atilola, said customers patronising Specta could access loans ranging from N10,000 to N5m, and funds within five minutes through their mobile phones, thereby removing the hassles associated with obtaining regular loans from banks. Atilola said, “Specta has been for salary earners who have accounts with Sterling Bank. From February 4, you don’t need to have an account with Sterling Bank to be able to access loans from the bank.

Source: Punch February 04, 2019 00:45 UTC