Economics
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
Photographer: Chris J. Ratcliffe/BloombergThis article is for subscribers only.
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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.