PLEASE KINDLY VISIT YOUR BANKERS TO RENEGOTIATE YOUR RATES ON YOUR PERFORMING FACILITIES NOW .

*This is a free financial advisory service.

The decision by the Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, to completely prohibit individuals and local firms from investing in both its primary and secondary Open Market Operations (OMO) auctions and to raise Loan to Deposit ratio of deposit money banks to 65% is having a positive impact on deposit and lending rates

As at close of business on January 6, 2020, deposit rates across the whole deposit money banks have crashed to between 2 to 3%.

Please if you have any running facility or credit with any deposit bank that is still running at double digit interest rate , kindly approach your Bankers to RENEGOTIATE the rates to single digit .

No bank is supposed to charge you an interest rate that is priced above 7% band between deposit and prime lending rate .

Kindly note that this advisory is only for those, with excellent performing facilities and are well collateralized and not for the customers with non performing facilities

Op break it down for laymen

jkh