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BANK INTEREST RATES
The Central Bank of Nigeria (CBN) has disclosed that the interest rates on all applicable apex bank's intervention facilities have been reduced from 9% to 5% per annum for 1 year effective March 1, 2020.
Based on CBN's report, Prime Lending Rate and the Maximum Lending Rate declined 0.3ppts and 1.2ppts respectively to 15.0% and 30.0% respectively in Q4 2019.
The Sokoto State Governor, Aminu Waziri Tambuwal yesterday stated that Nigerian banks are inadvertently stifling the growth of Small and...