x

CBN retains minimum 65% loan deposit ratio

The Central Bank of Nigeria (CBN), says it has retained the minimum 65 per cent of Loan Deposit Ratio (LDR) in the interim.

The CBN made this known in a circular signed by its Director of Banking Supervision, Mr Ahmad Abdullahi in Abuja on Wednesday.

The bank explained that it had noticed remarkable increase in the size of gross credit by the Deposit Money Banks (DMBs) to customers.

The CBN enjoined all DMBs to maintain this level as well as ensure that average daily figures were applied to assess compliance.

“The incentive which assigns a weight of 150 per cent in respect of lending to Small and Medium Enterprises (SMEs), retail, mortgage as well as consumer lending shall continue to apply.

“While failure to achieve the target shall continue to attract a levy of additional cash reserve requirement of 50 per cent of the lending shortfall of the target LDR on or before March 31, 2020.

“DMBs are furher encouraged to maintain strong risk management practices regarding their lending operations, ” it said.

The apex bank said it would continue to monitor compliance, review market development and make further alterations in the LDR as it deems appropriate. (NAN)

Hot this week

CSGGG Hails Rivers Sole Administrator’s Leadership

…Says Peace Brokered, Trust Restored…Lauds Transformative Governance, Credits Tinubu’s...

Kidnappers Kill Traditional Ruler in Kanam LGA of Plateau

By Israel Adamu, Jos Gunmen suspected to be kidnappers have...

Breaking: FG Set to Integrate Organ Transplant Services Into NHIA

… To End Unethical Local Organ Transplantation Practices By Joyce...

Niger Gov to Northerners: Power Will Return to North in 2031 After Tinubu

By Achadu Gabriel, Kaduna Governor Mohammed Bago of Niger State...

Gov Mutfwang Commissions New JMDB Market to Empower Women Traders

By Isreal Adamu, Jos Plateau State Governor, Caleb Mutfwang, has...

A’Ibom Commissioner seeks royal support for voter registration, Gov Eno’s Arise Project

By Ogenyi Ogenyi,Uyo Traditional leaders in Akwa Ibom have been...

Prof. Usman Ogbo Moves to Curb Rumoured Protest Over Fee Hike in Kogi Poly

By Noah Ocheni, Lokoja The management of Kogi State Polytechnic,...

New Green Empowerment Initiative Visits Sokoto Education Ministry

By Muhammad Ibrahim, Sokoto The New Green Empowerment Initiative (NGEI)...

Sokoto Partners Livestock Insurance Firms to Boost Cattle Production

By Muhammad Ibrahim, Sokoto The Sokoto State Livestock Productivity and...

China Inaugurates 14th ‘Chinese Corner’ in Abuja

By Francis Wilfred The Chinese Embassy in Nigeria has inaugurated...

Gov Sule Hands Over Headquarters Complex to North Central Development Commission in Lafia

By Israel Adamu, Jos Nasarawa State Governor, Engr. Abdullahi Sule,...

Kogi Govt Vows to Clamp Down on Youth Aiding Bandits

By Noah Ocheni, Lokoja The Kogi State Government has warned...

8th Zenith Bank/Delta Principals’ Cup Kicks Off September 18

By Anne Azuka The 8th edition of the Zenith Bank/Delta...

Related Articles

Popular Categories

spot_imgspot_img