Business

Nigeria FCMB charged $46 million for failing to meet loan requirement

Isaac UmunnaComment(0)

Nigeria’s FCMB said on Thursday it was charged 14 billion naira ($46 million) for failing to meet the central bank’s minimum loan-to-deposit ratio requirement by a September deadline, the lender told Reuters on Thursday.

The mid-tier bank’s spokesman said the bank had reported loan growth in September and it expected to keep the momentum with a focus on asset quality. Reuters

Isaac Umunna

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