When it comes to banking in Nigeria, there is no such thing as a fair bargain for depositors. They are coerced or forced to deposit their hard earned cash into Nigerian banks at rates well below inflation rate. To make matters worse they get to borrow at more than three times the interest rates bank’s pay them to deposit. Its an issue I have talked about mostly on this blog. Thankfully the CBN Half year economic report for 2012 proves just that.
The difference is clear isn’t it??