A report released by the Alliance for Economic Research and Ethics (AERE) has highlighted concerns regarding the role of commercial banks in Nigeria's economy, specifically criticizing their failure to engage in effective intermediation. The report indicates that a substantial amount of N91.1 trillion is currently sterilised at the Central Bank of Nigeria's standing deposit window, suggesting a significant amount of idle liquidity. This situation is viewed as detrimental to economic growth, as the funds are not being utilized to support lending and investment activities within the economy. The findings underscore the need for banks to reassess their operational strategies to better contribute to national economic development.
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