Nigerian central bank pushes for increased lending
Banks must lend money or face higher cash reserve requirements
The Central Bank of Nigeria has ordered the country’s banks to either lend more money or store it in the central bank, in an attempt to stimulate economic growth.
All retail banks will now be have to maintain a minimum loan to deposit ratio (LDR) of 60%, Ahmad Abdullahi, the CBN’s director of banking supervision, said in an official letter on July 4. If banks fail to meet the new requirement by September 30, they will have a levy of an additional cash reserve requirement equal to 50% of the
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com