Tag: Loan Policy Violation
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Loan Policy Violation: CBN clears air on deductions, states when affected banks will get refund
The Central Bank of Nigeria (CBN) on Thursday clarified that the deductions on some banks’ Cash Reserve Ratio (CRR) were not a fine but a punitive measure for their failure to abide by the regulator’s directive on the new lending regime of 60 per cent deposits to them. The clarification was given at the end…