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Nigeria’s Central Bank asks banks to make available 60% of deposits for loans

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Nigeria's Central Bank has issued an ultimatum to banks in the country to make available at least 60% of their deposits for loans by September 2019, or risk being sanctioned.

Failure to adhere to the directive means banks will have their cash-reserve requirements increased, and compelled to deposit more money at the Central Bank.

The directive is part of efforts to boost economic growth in Africa’s most-populous country. 

Banks in Nigeria are some of the most reluctant lenders in major emerging markets, with an average loan-to-deposit ratio below 60 percent

SourceNews24

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