List of banks fined by CBN for inability to meet loan ratio

 

The Central Bank of Nigeria (CBN) says 12 banks have been debited N499 billion for failing to give out 60% of their deposits as loans. The cash reserve of the banks held by the CBN has been debited. The CRR is a portion of the banks’ deposits kept with the CBN for regulatory reasons.

   In July, the CBN had increased the loan to deposit ratio to 60% saying: “Failure to meet the above minimum LDR by the specified date shall result in a levy of additional Cash Reserve Requirement equal to 50% of the lending shortfall of the target LDR”. The affected banks are:

Senate passes MTEF/FSP

 

   The Senate on Thursday passed the 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) submitted to it by President Muhammadu Buhari last week. This followed the presentation and consideration of the report of the Senator Solomon Adeola-led Senate Committee on Finance by the Red Chamber in Abuja.

   The upper chamber in the approved MTEF/FSP for 2020-2022 increased the Federal Government’s proposed expenditure for 2020 from N10.002trillion to N10,729.4trillion. The Senate also increased the oil benchmark from $55 per barrel to $57 per barrel, representing a $2 increase.

Gunmen Abduct Six Female Students, Two Teachers In Kaduna

 

   Gunmen suspected to be kidnappers have abducted six students and two teachers from a private secondary school in Kaduna State. The Public Relations Officer of the State Police Command, Mr Yakubu Sabo, confirmed the abduction to Channels Television on Thursday.

I have no regret conceding the presidential election of 2015 to President Muhammadu Buhari- Former President Goodluck Jonathan

   Former President Goodluck Jonathan says he has no regret conceding the presidential election of 2015 to President Muhammadu Buhari. Jonathan who was the incumbent at the time polled 12,853,162 votes – 2.5 million less than – Buhari’s 15,424,921 votes.

  He made a historic call to Buhari, before the final collation of results, conceding the election. Responding to a question by TheCable if he regrets conceding the election in 2015, considering some unsavory developments in the past four years, the former president said he has no regrets for his action because it was a sacrifice for Nigeria’s democracy.

PHOTOS- President Buhari Arrives South Africa For 3 Day Official Visit

 

  President Buhari  and nine  of his Ministers are presently in South Africa to hold talks with the Country's President over the recent Xenophobic attack on Nigerians living n the Country.