3 banks fail CBN’s liquidity ratio requirement

Three banks failed to meet the 30 percent liquidity ratio requirement of the Central Bank of Nigeria, CBN, even as investigations revealed prevalence of major foreign exchange malpractices in the banking industry.

The CBN disclosed this in its 2018 half year, H1’18, economic review released yesterday which indicated slight improvements in the banks’ financial health buoyed by sustained recovery in macroeconomic conditions, as reflected by the 1.9 percent and 1.5 percent Gross Domestic Product, GDP, growth rates recorded in the first quarter (Q1’18) and second quarter (Q2’18) of the year respectively.

The CBN noted that while in the overall, the banking industry recorded improvement in capital adequacy ratio, liquidity ratio and asset quality (non-performing loans ratio), three banks, however, failed to meet the 30 percent minimum liquidity ratio requirement of the apex bank. It did not mention the names of the affected banks.

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