Banks To Earn 25.75% On Deposits With CBN

Banks To Earn 25.75% On Deposits With CBN …C0NTINUE READING HERE >>>

The Central Bank of Nigeria (CBN) has lifted the suspension of the standing lending facility for banks in the country and fixed interest on their deposits between 19 and 25.75 percent.

 

The decision followed the adjustment of the apex bank’s asymmetric corridor at the last Monetary Policy Committee (MPC) meeting.

 

At its last meeting in July, the MPC had raised the monetary policy rate by 50 basis points to 26.75 per cent from 26.25 per cent and adjusted the asymmetric corridor…

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