CBN Orders Banks: Restructure loan terms, cuts interest rate to 5%

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Tec
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March 17th, 2020, 7:35 am

This is yet another change in banking terms that will have a lot of impact especially on lending of CBN intervention funds.
CBN orders Nigerian banks: restructure loan terms, cuts interest rate to 5%
CBN Governor Emefiele
CBN Governor Emefiele
The Central Bank of Nigeria (CBN) has directed all deposit money banks in the country to restructure loan terms and tenors to households and businesses affected by the coronavirus outbreak.

Addressing journalists in Abuja on Monday, Godwin Emefiele, the CBN governor, said the interest rate of its intervention programmes has been cut to 5% from 9%.

“The CBN hereby grants all deposit money banks leave to consider temporary and time-limited restructuring of the tenor and loan terms for businesses and households most affected by the outbreak of Covid-19 particularly oil & gas, agriculture, and manufacturing,” he said.

“The CBN would work closely with DMBs to ensure that the use of this forbearance is targeted, transparent and temporary, whilst maintaining individual DMB’s financial strength and overall financial stability of the system.
https://ireportnews.com.ng/cbn-to-banks ... rate-to-5/

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Emi
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March 17th, 2020, 7:55 am

This will affect CBN intervention funds only. Not normal loans. I believe
I'm sekxy and I know it... :w':
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AK Horsfall
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Location: Port-Harcourt
 

March 17th, 2020, 10:44 am

It's a good move
I'm a living success and from a Royal Priesthood.
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Tec
Senior
 

March 18th, 2020, 5:50 am

AK Horsfall wrote:It's a good move
Every economy including the USA is doing such stuffs to alleviate Covid-19 impacts
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Favour12
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April 7th, 2020, 12:19 pm

Emi wrote:This will affect CBN intervention funds only. Not normal loans. I believe
:thnk:
Flash
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Favour12
Senior
 

April 7th, 2020, 12:20 pm

AK Horsfall wrote:It's a good move
:good: yes✅
Flash
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Favour12
Senior
 

April 7th, 2020, 12:20 pm

Tec wrote:
AK Horsfall wrote:It's a good move
Every economy including the USA is doing such stuffs to alleviate Covid-19 impacts
:shkd:
Flash
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Favour12
Senior
 

April 10th, 2020, 7:01 am

Emi wrote:This will affect CBN intervention funds only. Not normal loans. I believe
:thnk:
Flash
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Favour12
Senior
 

April 10th, 2020, 7:02 am

AK Horsfall wrote:It's a good move
yes
Flash
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Favour12
Senior
 

April 10th, 2020, 7:02 am

Tec wrote:
AK Horsfall wrote:It's a good move
Every economy including the USA is doing such stuffs to alleviate Covid-19 impacts
:thnk: very good👍
Flash
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Edwardo
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April 30th, 2020, 7:31 am

That's a good move
I'm the future flash ⚡⚡⚡ don't try me. I'm a ban free member on bestnaija.com
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green20
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Location: Rivers state
 

May 23rd, 2020, 3:30 pm

nice
"We must use time wisely and forever realize that the time is always ripe to do right."
Ayfundz1
Junior
 

May 25th, 2020, 8:17 pm

This will affect CBN
intervention funds
only. Not normal
loans. I believe :tu:
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green20
VIP VIP
Location: Rivers state
 

May 25th, 2020, 8:35 pm

Ayfundz1 wrote:This will affect CBN
intervention funds
only. Not normal
loans. I believe :tu:
:lol;
"We must use time wisely and forever realize that the time is always ripe to do right."
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simpl2
Senior
 

May 26th, 2020, 6:55 am

Ayfundz1 wrote:This will affect CBN
intervention funds
only. Not normal
loans. I believe :tu:
Correct.
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green20
VIP VIP
Location: Rivers state
 

May 27th, 2020, 12:39 am

Simpl2 wrote:
Ayfundz1 wrote:This will affect CBN
intervention funds
only. Not normal
loans. I believe :tu:
Correct.
let it affect na
"We must use time wisely and forever realize that the time is always ripe to do right."
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