1. Start lending or hand it over, banks are told

To boost growth, Nigeria is giving its banks a choice: lend more money, or hand it over to the central bank and earn nothing on it, Bloomberg reports. Commercial banks have until September to use at least 60% of their deposits for loans. Those that don’t will have their cash-reserve requirements increased, meaning they’ll be forced to park more money at the central bank.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now