Tag: loan-to-deposit ratio policy
Nigeria’s Monetary Policy Committee (MPC) says raising the Cash Reserves Requirement (CRR) of banks to 27.5 per cent will help address monetary-induced inflation while retaining the benefits from the Central Bank's Loan-to-Deposit Ratio policy. Wale Olusi, Sub-Saharan Macro and Consumer Analyst at United Capital joins CNBC Africa to discuss the impact of this move on Nigeria’s banking sector.
Nigeria’s agricultural sector grew by 2.28 per cent year-on-year in the third quarter of the year. Meanwhile, in its Monetary Policy Communiqué, Central Bank of Nigeria (CBN) says gross credit to the Agric sector stood at N73.2 billion between the end of May and the end of October this year owing to the bank’s new loan-to-deposit ratio policy. Emmanuel Ijewere, Chairman of Best Foods Farms joins CNBC Africa for this conversation.