Economy
CBN scales down loan to deposit rate to 50%
Central Bank of Nigeria CBN has in a circular to Deposit Money Banks titled “Re: Regulatory Measures to Improve Lending to the Real Sector of the Nigerian Economy” announced a scale down of the Loans to Deposits Rate (LDR) by 15.0ppts to 50.0% – reversing previous threshold set by the past CBN administration in January 2020.
This downward review of LDR allows banks comply with the 45.0% CRR directive, and eases off pressure on the lenders considering the restrictive nature of other CBN directives including the Net Open Position (NOP) ceiling of 20.0% short and 0.0% long. Thus, we believe this policy would enhance ability of banks to sweat out assets without creating unnecessary risks.
-
Business2 days agoRising trade surplus can boost industrialisation, attract investment- ACCI D-G
-
Agriculture2 days agoFG, IFAD-VCDP hail Anambra farmers for turning cassava, rice into marketable products
-
Economy2 days agoNigeria, US sign agreement to boost mining investment
-
Economy2 days agoFG extends poverty reduction scheme to Oyo, woos states
-
Economy20 hours agoFG launches online discount shop for troops, veterans in Abuja
-
Economy2 days agoNigeria’s $1trn economy, stakeholders seek interstate collaboration
-
Oil and Gas2 days agoOil prices jump 4% as Houthis fire missiles at Saudi Arabia
-
Oil and Gas20 hours agoPetrol receipts rise 11% as Dangote refinery exceeds capacity— NMDPRA