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Nigeria Sees Most Banks Raising Lending to Meet New Ratio

  • Central Bank chief Emefiele says compliance “excellent” so far
  • Banks that fail to meet higher loan rule to be penalized
Godwin Emefiele

Godwin Emefiele

Photographer: Chris J. Ratcliffe/Bloomberg
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Central Bank of Nigeria Governor Godwin Emefiele said most of the country’s banks have obeyed a directive to raise loan-to-deposit ratio to 60% and those that fail to do so will face penalties by Oct. 1.