CBN deducts N499b from 12 banks
The Central Bank of Nigeria (CBN) has deducted a total of N499,175,535,097 from the accounts of 12 banks under its supervision.
The deduction was carried out over the banks’ failure to meet the September 30, 2019 deadline stipulated for them to maintain 60 per cent loan-to-deposit (LDR) ratio.
The banks are Citibank, FirstBank of Nigeria, FBNQuest Merchant, First City Monument Bank, Guaranty Trust Bank, Jaiz Bank, Keystone Bank and Rand Merchant Bank.
Others are Standard Chartered Bank, Suntrust, United Bank for Africa and Zenith Bank.
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