The Central Bank Of Nigeria (CBN) is set to announce the state of Nigerian Bank later today. According to CBN data on commercial banks in Nigeria, a total of 21 banks are listed which includes:
1 Access Bank Plc
2 Citibank Nigeria Limited
3 Diamond Bank Plc
4 Ecobank Nigeria Plc
5 Enterprise Bank
6 Fidelity Bank Plc
7 First City Monument Bank Plc
8 Guaranty Trust Bank Plc
9 Heritage Banking Company Ltd.
10 Key Stone Bank
11 MainStreet Bank
12 Skye Bank Plc
13 Stanbic IBTC Bank Ltd.
14 Standard Chartered Bank Nigeria Ltd.
15 Sterling Bank Plc
16 SunTrust Bank Nigeria Limited
17 Union Bank of Nigeria Plc
18 United Bank For Africa Plc
19 Unity Bank Plc
20 Wema Bank Plc
21 Zenith Bank Plc
According to the Key Decisions of the Central Bank of Nigeria Monetary Policy Committee of 23rd and 24th July, 2015 The Committee decided as follows: Retain the MPR at 13.0 percent; Maintain a symmetric corridor of ±200 basis points around the mid-point of the MPR; and Retain the CRR at a single rate of 31 percent.
It is expected that the CBN review its Key Decisions of Monetary Policy in line with the current realities following the new FX policy which lead to the floating of the naira.
More details later……..