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CBN Taking LDR to 70%

The Central Bank of Nigeria plans to hit 70% for banks’ Loan to Deposit Ratio in coming months. That would be amazing for builders of our economy as loan would be yakata.

The Central Bank of Nigeria (CBN) will increase banks’ Loan to Deposit Ratio (LDR) to 70% by 2020. According to a report published by Vanguard.

This was disclosed by CBN Director, Banking Supervision, Mr. Hassan Belllo while speaking at the 2019 workshop for Finance Correspondents and Business Editors organised by the Nigeria Deposit Insurance Corporation (NDIC) in Yola, Adamawa State.

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Recall that the Apex bank in May 2019 introduced 60 percent LDR for Deposit Money Banks in the country. The LDR was increased to 65 per cent in September with December 31st 2019 as deadline for compliance.