The Central Bank of Nigeria (CBN) has been recently trigger-happy when it comes to issuing debits on banks that breached the Cash Reserve Requirement (CRR) and Loan-to-Deposit Ratio (LDR). The latest deductions by the CBN was a sum of N219 billion for breaching the apex bank’s CRR guideline. Just halfway into the year, the CBN has already made bank debits totalling N2.1 trillion in 2020, for CRR or LDR alike. The CBN took N459.7 billion from the banks some three weeks ago and N1.4 trillion in April.

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Quite frankly, these persistent CBN debits do not bode well for the Nigerian economy especially with the pandemic-induced recession. Most importantly, the immediate burden of these constant debits will be carried not just by the banks but by you and I. Here’s why: https://olatorera.com/how-cbns-frequent-debits-of-banks-over-crr-ldr-affects-you/