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Nigerian Banks Tried, But ‘Not All’ Made New Loans Threshold

  • Regulator to issue new circular as some banks miss deadline
  • Lenders ‘strived’ to meet minimum rules, supervisor says
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Nigeria’s banking regulator will issue a fresh circular to the West Africa nation’s lenders after some failed to meet a deadline to ramp up lending.

“All banks have strived to meet it, but not all did,” Ahmad Abdullahi, director of banking supervision at the Central Bank of Nigeria, said in a text message on Monday, without elaborating. The authority will issue another notice to banks on the directive, he said, without being more specific.