The bankers committee has justified
the decision of the Central Bank of Nigeria, CBN to withdraw 50 percent public
sector fund from commercial banks.
One of
the banks managing directors at the meeting, Godwin Emeifiele said the
development was to guarantee micro economic and exchange rate stability.
The
bank boss disclosed that they were convinced by the argument of the CBN
Governor,Sanusi Lamido Sanusi on why the apex bank withdrew one trillion naira
of public sector fund from the banks.
CBN
Director for Banking Supervision,Tokunbo Martins told said that the banks have
signed a memorandum of understanding to pay 0.5 percent of their total assets
to the sinking fund same as 0.5percent of 33percent of their off balance sheet.
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