CBN Withdrawal Of Govt Funds: Banks Raise Interest On Deposits Leadership Deposit money banks are aggressively strategising on how to boost private sector deposit generation, particularly from small savers, following the withdrawal of 50 per cent public sector deposits from the banking system by the Central Bank of Nigeria (CBN) last week. LEADERSHIP findings reveal one of the strategies adopted include increasing the interest rates on savings accounts in order to provide added incentives to customers to attract more savings deposit, which is the cheapest source of income outside of the government deposits.
Posted on: Mon, 12 Aug 2013 07:43:55 +0000
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