22 results
- 17 Apr 2024
CBN Cuts Banks’ Loan-to-Deposit Ratio to 50 Percent
Central Bank of Nigeria (CBN) has issued a new directive to all Deposit Money Banks (DMBs) introducing a reduction in the loan-to-deposit ratio (LDR) to 50 per cent. So called LDR refers to the…
- 27 Dec 2021
Stanbic IBTC Bank Pledges to Improve Lending to Real Sector
Stanbic IBTC Bank Plc is set to improve on its lending to real sector of the economy, hence, grew its Loan to Deposit Ratio (LDR) by 69 per cent. With the regulatory measures to improve lending to…
- 8 Oct 2023
CBN Quarantines N700Bn Banks’ Deposits
Central Bank of Nigeria (CBN) last week debited commercial banks over N700 billion (as surveyed), speculatively based on Lending Deposit Rate (LDR) guidelines, which depleted liquidity. According to…
- 5 Feb 2024
CBN Issues 50 Percent Cash Reserve Requirement Levy on banks
Central Bank of Nigeria (CBN), has issued a 50-cent Cash Reserve Requirement levy on the lending shortfall that will be enforced for banks that do not meet the minimum Loan to Deposit Ratio, LDR. The…
- 22 Dec 2020
CBN Debits Banks N349.72Bn for Failing to Meet CRR
Central Bank of Nigeria (CBN) debited about 23 Deposit Money Banks (DMBs) in the country N349.72 billion towards the end of last week, for failing to meet Cash Reserve Ratio (CRR) targets. According…
- 27 Oct 2019
Private Sector Gets N25.47 Trillion Facility from Banks
Banking sector’s credit to private sector rose to N25.47tn in September, setting a new record for the year, a new report by the Central Bank of Nigeria (CBN) has revealed. Analysts have said…
- 19 Aug 2019
Banks Lose N1.1trn to IFRS 9 Rule on Bad Loans
The banking industry lost N1.1 trillion in total assets as a result of compliance with the requirements of the International Financial Reporting Standard (IFRS) 9 on recognition of bad loans. …
- 20 Oct 2019
CBN Fines 12 Banks N500Bn for Refusing to Lend to Customers
Central Bank of Nigeria (CBN) has fined 12 major banks N499.1billion for breaching its guidelines on lending to the real sector of the economy. According to an approved debit instruction, the…
- 5 Dec 2021
Banks Disburse N7 Trillion Loans to Nigerians in 3 Years
Commercial banks in Nigeria in the last three years, disbursed over N7 trillion in loans and advances to customers, a feat the Central Bank of Nigeria (CBN) said was achieved through its loans to…
- 4 Jul 2019
CBN Okays Free Operation of Mobile Wallet by Banks
Central Bank of Nigeria (CBN) has said that Deposit Money Banks can now operate mobile money wallet services without prior approval. The banking regulator stated this in a circular to DMBs…
- 1 Dec 2019
CBN’s Order to Banks on Loans May Weaken Balance Sheets – IMF
International Monetary Fund (IMF) has said the directive from the Central Bank of Nigeria (CBN) that deposit money banks should achieve a minimum loan-to-deposit ratio could weaken their balance…
- 16 Nov 2020
CBN Blocks Banks, Investors from N622Bn Illegal Earnings
Central Bank of Nigeria (CBN), has effectively obstructed about N622 billion interest earnings that would have accrued to banks and other individual and corporate investors in the money market. Mr.…
- 20 Mar 2022
CBN Slashes Interest on Intervention Loans to 5 Per Cent
Central Bank of Nigeria (CBN) has cut interest rates on all intervention facilities from nine to five per cent per annum. The regulatory forbearance would allow banks to restructure loans given to…
- 5 Jul 2019
CBN sets Regulation to Boost Lending
The Central Bank of Nigeria has told banks to maintain a minimum loan-to-deposit ratio of 60% by September, part of a series of regulatory measures aimed at getting credit flowing in Africa’s biggest…
- 17 Nov 2019
NECA Worries over CBN’s Directive to Banks on Lending
Nigeria Employers’ Consultative Association (NECA), has raised concerns over the Central Bank of Nigeria’s (CBN) directive to banks on lending, saying it could pose a risk to financial stability.…
- 25 Oct 2019
CBN Bars Individuals, Domestic Firms from OMO Auction
Central Bank of Nigeria (CBN) has completely prohibited individuals and local firms from investing in both its primary and secondary Open Market Operations (OMO) auctions. The central bank’s…
- 3 Oct 2019
CBN Slams N500Bn Fine on Six banks for Loan Policy Violation
Central Bank of Nigeria (CBN) has slammed a fine of N500 billion on six Deposit Money Banks (DMBs) listed on the Nigerian Stock Exchange (NSE) as well as six other lenders for failing to meet the 60…
- 8 Aug 2019
Agusto & Co. Assigns UBA Aa- Rating
Agusto & Co. Limited, Nigeria’s premier credit rating agency, known for its credible presence in credit analysis globally, has scored United Bank for Africa (UBA) Plc with a rating of “Aa-”.…
- 2 Feb 2024
CBN Halts Daily CRR Debits on Banks
Central Bank of Nigeria (CBN) on Friday announced the discontinuing of daily Cash Reserve Requirements (CRR) debits and introducing a revised mechanism. This was announced in a circular to all banks,…
- 5 Jul 2020
CBN Debits Banks N1.977.7trn to Tightens Liquidity
Central Bank of Nigeria (CBN) has debited close to N2 trillion from several banks in the last quarter in line with its Cash Reserve Ratio (CRR) compliance requirement, and this has left many banks…
- 7 Aug 2019
Agusto & Co. Assigns a “Aa-” Rating to United Bank for Africa Plc
Nigeria’s first credit Rating Agency and a pan African leader in credit reports, Agusto & Co. limited whose strong credibility presence and ratings are globally accepted in Nigeria, and across…
- 2 Aug 2020
Banks Write-Off N1.9tTrillion Bad Debts in 4 Years- Report
Agusto & Co, a foremost rating institution in Nigeria, has disclosed that a minimum of N1.9 trillion impaired loans has been written off by commercial and merchant banks operating in Nigeria from…