Nigeria’s central bank issues regulation to boost lending -circular

LAGOS, July 5 (Reuters) – Nigeria’s central bank has asked banks with immediate effect to maintain a minimum loan-to-deposit ratio of 60% by September, part of a series of regulatory measures aimed at getting credit flowing in Africa’s biggest economy.

The regulator said in a circular dated July 3 that lenders that fall short of the target loan-to-deposit ratio would face higher cash reserve requirements. The bank is seeking to boost credit to businesses and consumers. (Reporting by Chijioke Ohuocha; Editing by Catherine Evans)

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