• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News Politics

CRR: Banks Now Lend To Each Other At 44% Interest Rate

NairametricsbyNairametrics
10 years ago
in Politics
Share on FacebookShare on TwitterShare on Linkedin

See which of the top 5 banks did better in Q1 2012

This is certainly not a very good period for Nigerian banks. According to Thisday inter bank rates have increased to 44%. See below;

There were strong indications Tuesday that the severe liquidity squeeze experienced in the banking sector last month, when a 50 per cent Cash Reserve Requirement (CRR) for public sector deposits was imposed by the Central Bank of Nigeria (CBN), was biting hard.

This was apparent in the astronomical rise in the cost of lending among commercial banks yesterday as the Nigerian Interbank Offered Rates (NIBOR), which has inched upwards since September, climbed further to an average of 44 per cent from 28 per cent on Monday.
Data made available by the Financial Market Dealers Association (FMDA) showed that while the Call (Overnight) tenor increased to 44.67 per cent yesterday, from 25.83 per cent on Monday, the 7-day tenor also jumped to 43.12 per cent yesterday, from 24.12 the previous day.

A research note from the Renaissance Capital Limited (RenCap) pointed out that the development in the market could be as a result of the delayed impact of the increase in the CRR for public sector deposits.

The impact of this on lending to small businesses will be severe in the long run.

Tags: banksNews Review
Nairametrics

Nairametrics

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *







NM newsletters
Kwakol
Abbey
IMT

Zenth Bank
UBA
Mega Millions

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • France to recall Ambassador, end all military presence in Niger, says Macron  
  • NSSF highlight commitment to mobilizing funds to improve healthcare
  • NiMPROP to take 14m children back to school and 16.5m Nigerians out of poverty

Follow us on social media:

Recent News

France announces plans to provide 10 million units of COVID-19 vaccine doses to Africa

France to recall Ambassador, end all military presence in Niger, says Macron  

September 24, 2023
NSSF highlight commitment to mobilizing funds to improve healthcare

NSSF highlight commitment to mobilizing funds to improve healthcare

September 24, 2023
  • Download Nairametrics iOS App
  • Download Nairametrics Android App
  • Contact Us
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Opinions

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • Login
  • Sign Up

© 2023 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In