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Banks say first rate cut in 3yrs does little for lending

Published by BusinessDay on Fri, 29 Mar 2019


Nigerian lenders say they cannot fully pass on the central bank's (CBN) latest policy rate cut to borrowers, in the form of lower lending rates or credit growth. A slowdown in deposits mobilisation, elevated cash reserve ratios (CRR) and increasing competition from the government and money market for small-savings mean banks increasingly face a higher []
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