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Banks’ deposits jump 13% in Q1 as businesses hoard cash

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Paul iyang

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May 6, 2020
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Nigeria’s big banks received a combined N16.22 trillion from customers through deposits across various account types in the first quarter of 2020 as business activities almost came to a halt due to the coronavirus pandemic. The total deposit collected by the tier-one lenders in the review quarter was 12.72 percent above the N14.39 trillion.
 
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