High Interest Rates Top Business Constraints, Says CBN

High-interest rates, unfavorable economic climate, and insufficient power supply have been identified as the major constraints to businesses in the country. The Statistics Department of the Central Bank of Nigeria said these in its ‘January 2020 business expectations survey report’. Part of the report read, “Respondent firms identified insufficient power supply (66.2 points), high-interest rates... Continue Reading →

BREAKING: CBN Drops ATM Withdrawal Fee To N35, Reviews Bank Charges

The Central Bank of Nigeria on Sunday reduced the withdrawal fee charged for the use of other banks’ Automated Teller Machines from N65 to N35. The N35 ATM fee according to the CBN should be imposed on customers after 3rd withdrawal within one-month Channels TV reports. Bank customers will henceforth pay N10 for each electronic... Continue Reading →

CBN Set To Raise LDR To 70% By 2020

The Central Bank of Nigeria will increase banks’ Loan to Deposit Ratio to 70 percent by 2020. The CBN Director, Banking Supervision Department, Mr. Hassan Bello gave the hint while speaking at the 2019 workshop for Finance Correspondents and Business Editors. The event which was organized by the Nigeria Deposit Insurance Corporation had as it’s... Continue Reading →

CBN To Soon Ban Milk Importation ― CBN Governor, Godwin Emefiele Reveals

Governor of Central Bank of Nigeria (CBN) Godwin Emefiele Tuesday declared the bank’s intention to add milk to forex restriction list sooner than expected. The announcement came on a day that Monetary Policy Committee (MPC) of the apex bank unanimously voted to retain all the base rates at their levels for the third time since... Continue Reading →

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