40% Of Nigerian banks’ savings in dollars – Analyst
•Head of Research Coronation Merchant Bank, Guy Czartorysk
By BAMIDELE OGUNWUSI, Lagos
Not minding restrictions imposed by the Central Bank of Nigeria (CBN) on dollar-denominated transactions in the country, not less than 40 per cent of the N30 trillion savings sitting in the vault of Nigerian banks are in dollars.
Guy Czartoryski, Head of Research at Coronation Merchant Bank, disclosed this on Tuesday at a virtual medial engagement organised by Coronation Asset Management.
He said, “It is quite astonishing to see top ten banks in the country fall into this category. If we breakdown their deposits in Naira and Dollar, the total in Dollars is 40 per cent. (Daily Independent)
