Commercial Bank Lending Rates In Nigeria

IMPACT OF COMMERCIAL BANK LENDING RATES ON INFLATION IN NIGERIA (1985-2004)

IMPACT OF COMMERCIAL BANK LENDING RATES ON INFLATION IN NIGERIA (1985-2004)

Prior to July 3rd, 1987, interest rates in Nigeria were directly controlled by the monetary authorities. This however, was based on expert advice in the absence of a well-developed financial markets CBN (1998:2). Under this system, the government would set the deposit and lending rates of the financial intermediaries at their prevailing levels, and also the rates for lending to special and specified sector. [Read more…]