Thursday, June 24, 2021

    Nigeria’s central bank to increase banks’ loan to deposit ratio to 70%

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    Bola Macaulay
    Bola Macaulay is a freelance journalist based in Ibadan Oyo State. She is a graduate of Univesity of Ibadan and she's married with kids

    The Central Bank of Nigeria will increase banks’ Loan to Deposit Ratio (LDR) to 70% by 2020.

    CBN Director, Banking Supervision, Mr. Hassan Belllo disclosed this while speaking at the 2019 workshop for Finance Correspondens and Business Editors organised by the Nigeria Deposit Insurance Corporation (NDIC) in Yola, Adamawa State.

    Recall that the Apex bank in May introduced 60 percent LDR for banks. The LDR was increased to 65 per cent in September with December 31st 2019 as deadline for compliance. Bello said that the introduction of the LDR has enhanced credit into the economy.

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