Business & Finance
Nigeria's central bank issues regulation to boost lending
LAGOS: Nigeria's central bank has asked banks with immediate effect to maintain a minimum loan-to-deposit ratio of 6
LAGOS: Nigeria's central bank has asked banks with immediate effect to maintain a minimum loan-to-deposit ratio of 60% by September, part of a series of regulatory measures aimed at getting credit flowing in Africa's biggest economy.
The regulator said in a circular dated July 3 that lenders that fall short of the target loan-to-deposit ratio would face higher cash reserve requirements. The bank is seeking to boost credit to businesses and consumers.
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