CBN raises banks’ Loan to Deposit Ratio to 65%

The Central Bank of Nigeria has reviewed upwards the minimum loan-to-deposit-ratio (LDR) for banks in the country from 60 to 65 per cent. The new directive comes just after the closure of September 30th deadline set by the regulator for banks to meet the 60 per cent loan-to-deposit-ratio. Meanwhile, oil prices steadied today although gains were capped as weak economic readings in the United States depressed global markets. Research Analyst at Financial Derivatives, Funmi Adebowale joins CNBC Africa for more.