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Central bank deducts N500 billion from Zenith, GTB, Citibank, UBA, 8 others

The Central Bank of Nigeria has deducted N500 billion from the accounts of 12 banks for failing to meet the target to provide credit to their customers.

Bankers committee endorses central bank’s cashless policy, loan-to-deposit ratio

The Bankers Committee has thrown its weight behind the Central Bank of Nigeria (CBN)’s cashless and Loan to Deposit Ratio (LDR) policies introduced by the apex bank.

Central bank mandates commercial banks to give out more loans

A new directive by the Central Bank mandates Nigerian banks to give N65 as loans for every N100 they have as deposits.

Central bank sends strong message to banks on giving loans

The Central Bank of Nigeria has directed commercial banks to raise their Loan-to-Deposit Ratio from 60 to 65 per cent before December 31, 2019 deadline.

Central bank apologises for cashless policy inconveniences

The Central Bank of Nigeria (CBN) has apologised to bank customers for the inconveniences the reintroduced cashless policy will cause.

CIBN: Debtors unwilling to repay loans sabotaging economy

The President and Chairman of Council, Chartered Institute of Bankers of Nigeria, Dr. Uche Olowu, has said the failure of perpetual borrowers to repay bank loans is hurting the nation’s economy.

Loan default: Central bank approves new clause to set off balance

The Central Bank of Nigeria, CBN, has released a new clause that mandates borrowers to agree that their loan balances would be offset from their bank balances across the industry.

Central bank pegs remunerable bank deposits at N2 billion

The Central Bank of Nigeria has pegged bank deposit placement through its Standing Deposit Facility (SDF) at N2billion, saying that any amount in excess of that will not attract interest payment.

Central bank intensifies pressure on banks to lend to the economy

In a bid to further stimulate lending to the economy, the Central Bank of Nigeria, CBN, yesterday, said bank deposit placement through its Standing Deposit Facility, SDF, in excess of N2 billion will not attract interest payment.

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