- Customers using loans for Treasury Bill will be blacklisted
Kunle Aderinokun, Obinna Chima, Ndubuisi Francis, Nume Ekeghe and Nosa Alekhuogie, in Washington DC
The Central Bank of Nigeria (CBN) has vowed to impose stiffer sanctions on any commercial and blacklist customers that flout its minimum loan-to-deposit ratio (LDR) policy that is focused on increasing lending to the real sector of the economy.
The Director, Corporate Communications, CBN, Mr. Isaac Okoroafor, disclosed these in a chat on the sidelines of the ongoing International Monetary Fund/World Bank Annual Meetings in Washington DC, United States.
Specifically, it warned that any bank that is found to be disbursing loans to customers who subsequently invest such funds in treasury bills and other money market and capital market securities, would be sanctioned and the customer blacklisted.
There were indications that some…
Source: Thisday Newspaper
