According to a circular issued to all banks, the rate cut is effective from today September 1, 2020.
Analysts say the move will allow smaller banks to grow faster and also make it easier for banks to cut lending rates to borrowers.
CBN slashes minimum interest rates on savings deposit to 1.25%
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According to a circular issued to all banks, the rate cut is effective from today September 1, 2020.
Analysts say the move will allow smaller banks to grow faster and also make it easier for banks to cut lending rates to borrowers.
