Tag: Loan Policy
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IMF cautions CBN over loan policy, multiple exchange rate
The International Monetary Fund (IMF) on Wednesday cautioned the Central Bank of Nigeria (CBN) over risks associated with the new loan policy requiring banks to lend at least 65 per cent of their deposits or be sanctioned. The Fund also raised concerns over the implementation of multiple exchange rates by the apex bank, urging the…
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CBN deducts N500bn from 12 banks for violating loan policy
The Central Bank of Nigeria (CBN) has deducted nearly N500 billion from Six Deposit Money Banks (DMBs) listed on the Nigerian Stock Exchange (NSE) as well as six other lenders for failing to meet the 60 percent loan to deposit ratio (LDR) before Monday, September 30, 2019. Recall that the apex bank had in July…