The Governor of the Central Bank of Nigeria, Godwin Emefiele, has said that certain commercial banks that have not obeyed the directive to increase the loan-to-deposit ratio to 60%, will be subject to sanctions from October 1. Speaking earlier this week in an interview with Bloomberg TV in London, the governor said that some establishments have not applied this new measure. The Central Bank has ordered banks to increase their loans by the end of September in order to support the country's economic activity, which has been slowing since 2016. Nigeria, whose budget depends more than 70% on exports oil, has been hit hard by the fall in the price of this raw material. With that, monetary authorities have urged banks to shift towards naira bonds, which offer high yields, to consumer and corporate credit. But, banking establishments have expressed reservations because, they argue, the granting of additional loans in a context of double-digit inflation could compromise the health of the banking system. As a reminder, S&P Global Ratings warned last week that this new central bank action will not help lending unless the government removes other structural impediments to investment in the economy. most populous country in Africa.