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CBN to increase banks’ Loan to Deposit Ratio to 70%

Nigeria's external reserve hits six months high at $44.14bn

The Director of Banking Supervision, Central Bank of Nigeria (CBN), Hassan Bello, said on Tuesday, that the apex bank would increase banks’ Loan to Deposit Ratio (LDR) to 70 percent by 2020.

Belllo disclosed this in his address at the 2019 workshop for journalists organised by the Nigeria Deposit Insurance Corporation (NDIC) in Yola, Adamawa State.

The CBN had in May introduced 60 percent LDR for banks.

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The LDR was increased to 65 percent in September with December 31 as the deadline for compliance.

The introduction of the LDR, according to Bello, has enhanced influx of credit into the economy.

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Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

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