CRR: THE Central Bank of Nigeria (CBN) has been holding on to N900 billion of lenders’ deposits as Cash Reserve Ration (CRR) since January.
THE Central Bank of Nigeria has been holding on to N900 billion of lenders’ deposits as Cash Reserve Ration since January.The CRR is a portion of bank’s deposit kept with the CBN for liquidity control.
Bankers said lenders were relying on existing customers to weather the storm as new lending looked risky with the economy expected to tip back into recession. Senior Director EMEA bank ratings at Fitch, said banks are dealing with slow growth, fall in lending, a lack of forex in the market and asset quality issues, saying he expected banks’ revenues to drop at least 20 per cent this year, though he did not expect any to make a loss.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
CBN Advised To Stop Forcing Banks To Give Out Loans | Sahara Reporters.cenbank Advised To Stop Forcing Banks To Give Out Loans | Sahara Reporters The indigenous rating firm said a further slowdown in economic activities or a total lockdown would be crippling for the banking industry. READ MORE:
Read more »
Banks’ non-performing loans now N1.2tn – CBN|p style=
Read more »
FG spent N292.38bn on pension, gratuities in 2019 – CBN|p style=
Read more »
StanChart Launches Deposit Products For Business Banking Clients In NigeriaMost Influential Newspaper in Nigeria
Read more »
Banks’ non-performing loans now N1.2tn – CBN|p style=
Read more »
CBN's maize ban: Food producers face struggles amid growthThe Central Bank of Nigeria (CBN) has banned maize importation, raising prospects of potential shortages in the market. There is concern that local farmers may not meet market demand as poultry farmers and other food producers bemoan...
Read more »