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Industrialists want gap closed between deposit and lending rates

The South-South Zone of the Nigerian Chambers of Commerce, Industry, Mines and Agriculture on Friday urged commercial banks to bridge the gap between deposit and lending rates. Billy Harry, the chambers’ President in the zone, said in Lagos that all commercial banks had reduced the interest rate on deposits. He said the reduction was supposed to reflect in the lending rate as well, ``but we are concerned about the widening gap between deposit and lending rates''. ``The crash in the deposit ...
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Added July 30, 2010
from Businessday Nigeria