BusinessDay
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Bank stocks gain by most in 3 months after CBN slashes interest rate on deposits

Nigerian bank stocks gained by the most in three months Tuesday after the Central Bank of Nigeria (CBN) reduced the interest rate on savings deposits to a minimum of 1.25 percent per annum from 3.75 percent. The rate reduction which became effective today (Sept.1) is expected to translate to increased profitability for banks as it…



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