MONEY MARKET: BANKS DON DEY SQUEEZE SAKE OF CBN DROP NAIRA

The Central Bank of Nigeria don  debit like  N900bn out of the local banking system since dem  raise the cash reserve ratio wit  five per cent to 27.5 per cent for  January, according to analysts’ calculations.
REPORTS QOUTE Nkemdilim Nwadialor for  Tellimer Capital on Tuesday as  dem say those debits still hamper wider borrow, wey dey  go against the CBN’s measures of lowering banks’ loan to deposit ratios.
CBN’s data show  say credit to the private sector for  April drop wit  nearly two-thirds from the end of 2019.
The CBN retain the benchmark lending rate for  12.5 per cent after their  last Monetary Policy Committee meeting.
dem still  retain the Cash Reserve Ratio and liquidity ratio for  27.5 per cent and 30 per cent respectively.