Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • 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
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • 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

CBN Will Stop Banks’ Cash Reserve Ratio Funds – Emefiele

Editor by Editor
December 11, 2015
in Politics
CBN Gov Godiwn Emefiele
Share on FacebookShare on TwitterShare on Linkedin

The Central Bank of Nigeria, CBN,  may not release funds due to banks, following the reduction of the Cash Reserve Ratio, if they failed to lend to SMEs.

Governor of the apex bank, Godwin Emefiele made the declaration at the 7th Annual Bankers’ Committee Retreat on Thursday in Lagos.

The CBN had reduced the CRR from 25 per cent to 20 per cent in November.

RelatedPosts

Rep calls for removal, prosecution of Emefiele over violation of CBN Act 2007

What it takes to remove a governor of the Central Bank of Nigeria

The CBN boss said banks had not played active roles in terms of lending to SME operators in the country.

Emefiele said the country was entering a phase where SMEs must be given priority in the nation’s growth.

News continues after this ad


He said operators in the banking industry must change, rethink and behave in ways that banks could support the SME sector.

The CBN Czar said the economies that withstood the global shocks were SME-driven countries.

Emefiele said the CBN would soon unveil a scheme that would assist young graduates to unleash their potential on their chosen fields.

He said the apex bank planned to come up with a scheme to assist young graduates with loans that would allow them work and pay back.

The Governor said the scheme would be different from the existing N220 billion Micro, Small and Medium Enterprises Development Fund launched in 2013.

“We need to begin to agitate our minds and consider how we can support the young minds. Let’s give them a chance.

The details of SME programme is going to be separate from the N220 billion.

I am saying if you refuse to support, your money that we would have released through the CRR, we will take that money and lend it through any channel that will give these young graduates jobs.

We all need to think together and agree because there is no need to release the money to you and all you do with the money is buy treasury bills.

It can’t continue. We need to agitate our minds; we need to think about the best ways to diversify this economy away from oil.

“We need to get more and more people to be employed and we would need the support of the banks to begin to see how we lower our risk acceptance criteria to give support to our young graduates,” he said.

Related

Tags: CBN NigeriaFinancial ServicesGodwin Emefiele

Leave a Reply Cancel reply

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

Mega Millions
Hot forex
Cornerstone
Polaris Bank
Access Bank
Bankers Committee
First bank


FCMB




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

    Recent News

    • The most expensive mansion in the world sold for $111 million in Hong Kong
    • Brent falls below $100 for the first time since April 2022
    • The emergence of a Third Force…

    Follow us on social media:

    Recent News

    The most expensive mansion in the world sold for $111 million in Hong Kong

    The most expensive mansion in the world sold for $111 million in Hong Kong

    July 6, 2022
    sanctions against Russia

    Brent falls below $100 for the first time since April 2022

    July 6, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

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

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com