CBN goes hard on banks over high charges on intervention funds

CBN goes hard on banks over high charges on intervention funds

The Central Bank of Nigeria (CBN) has indicated it would henceforth go hard on commercial lenders which continue to lend its intervention funds at high interests. CBN governor, Godwin Emefiele warned Participating Financial Institutions (PFIs) in the country against charging double-digit interest on intervention funds guaranteed by the apex bank. “Report any bank that charges…

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