尼日利亞的銀行系統結構扼殺了儲蓄，創造財富和經濟增長

這項研究由尼日利亞銀行董事協會（BDAN）的Mustafa Chike Obi和Adetilewa Adebajo合著

A new report has highlighted how the structure of Nigeria’s banking system is stifling savings, wealth creation, and economic growth, particularly for low-income individuals and small businesses.

一份新報告強調了尼日利亞銀行體系的結構如何扼殺儲蓄，創造財富和經濟增長，特別是對於低收入個人和小型企業而言。

The study, co-authored by Mustafa Chike Obi, Chairman of the Bank Directors Association of Nigeria (BDAN), and Adetilewa Adebajo, CEO of CFG Advisory, points to high banking fees, excessive interest rate spreads, and restrictive monetary policies as key factors discouraging financial inclusion and investment.

這項研究由尼日利亞銀行董事協會（BDAN）主席Mustafa Chike Obi和CFG諮詢首席執行官Adetilewa Adebajo合著，指出了高銀行費用，過高的利率價差和限制性貨幣政策作為關鍵因素阻止金融包容性和投資。

Over the past few years (2023–2025), interest rate spreads in Nigeria have surged from 6 percent to 19 percent, making it harder for businesses and individuals to access affordable credit.

在過去的幾年（2023-2025）中，尼日利亞的利率利差從6％飆升至19％，使企業和個人更難獲得負擔得起的信貸。

Financial experts explained that saving and investment are two sides of the same coin—when savings decline, investment also declines, negatively impacting economic growth.

金融專家解釋說，儲蓄和投資是同一枚硬幣的兩個方面 - 儲蓄下降時，投資也下降，對經濟增長產生負面影響。

The report highlighted how high lending rates discourage borrowing for productive investments, thereby hindering wealth creation and stifling economic expansion. Small and Medium Enterprises (SMEs) and individuals face challenges in securing credit at affordable rates, limiting their ability to grow their businesses, create jobs, and contribute to the economy.

該報告強調了高貸款利率如何阻止借貸用於生產投資，從而阻礙了創造財富的創造和扼殺經濟擴張。中小型企業（中小型企業）和個人在以可承受的利率確保信貸，限制其發展業務，創造就業機會並為經濟貢獻的能力方面面臨挑戰。

The report pointed to how the Central Bank of Nigeria’s (CBN) high Cash Reserve Ratio (CRR) of 50 percent, along with the AMCON levy, Nigeria Deposit Insurance Corporation (NDIC) premiums, and upcoming windfall taxes, have forced banks to increase interest rates on loans.

該報告指出，尼日利亞中央銀行（CBN）高現金儲備比率（CRR）如何以及AMCON LEVY，NIGERIA LEVY，尼日利亞存款保險公司（NDIC）保費以及即將到來的財產稅，迫使銀行增加了利息貸款費率。

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Since banks must hold 50 percent of their deposits with the CBN without earning interest, they compensate for this lost revenue by charging higher lending rates and offering low deposit rates.

由於銀行必須在CBN的情況下持有50％的存款，而不會收入利息，因此他們通過收取更高的貸款利率並提供低存款利率來彌補這一損失的收入。

The CBN’s monetary policy stance, including high benchmark rates like the Monetary Policy Rate (MPR), significantly influences interest rate spreads. The higher the MPR, the more banks raise lending rates, widening the spread between loan and deposit interest rates.

CBN的貨幣政策立場，包括諸如貨幣政策利率（MPR）之類的高基準利率，會顯著影響利率利率。 MPR越高，銀行提高貸款利率的越多，擴大了貸款和存款利率之間的利差。

It further highlighted that Nigeria’s banking system also faces high levels of non-performing loans (NPLs), making banks more cautious when lending.

它進一步強調，尼日利亞的銀行系統還面臨著高水平的不良貸款（NPL），這使得銀行在貸款時更加謹慎。

To mitigate default risks, banks impose higher interest rates, further discouraging borrowing and economic expansion.

為了減輕違約風險，銀行施加了更高的利率，進一步阻止借貸和經濟擴張。

“Unlike their counterparts in advanced economies, Nigerian banks lack access to affordable capital, forcing them to rely on high-cost deposits or expensive interbank borrowing. This results in higher interest rates on loans, reducing affordability for businesses and individuals, “ it stated.

“與發達經濟體中的同行不同，尼日利亞銀行無法獲得負擔得起的資本，迫使他們依靠高成本存款或昂貴的銀行間借貸。這會導致貸款利率更高，從而降低了企業和個人的負擔能力。

The report found that Nigeria’s widening interest rate spreads have contributed to: Lower GDP Growth as high lending rates suppress economic activity, leading to lower investment and production levels.

該報告發現，尼日利亞的利率差異越來越大，降低了GDP的增長，因為高貸款利率抑制了經濟活動，從而導致投資和生產水平降低。

It also leads to a reduced savings culture as low deposit rates make saving less attractive, decreasing the amount of capital available for investment.

由於低存款利率使儲蓄的吸引力降低，從而減少了可用於投資的資本數量，因此這也導致了儲蓄文化的減少。

It promotes Income Inequality and Poverty because limited access to affordable credit widens the gap between the rich and the poor, particularly in rural areas.

它促進了收入不平等和貧困，因為獲得負擔得起的信貸的機會有限會擴大富人與窮人之間的差距，尤其是在農村地區。

High borrowing costs according to the report, make it difficult for manufacturers to expand, leading to lower productivity and slower economic growth.

根據該報告，高借貸成本使製造商難以擴大，從而降低了生產率和降低的經濟增長。

Another area according to some analysts, where the structure of the banking system is discouraging savings is the Standing Lending Facility (SLF).

根據一些分析師的說法，銀行系統的結構正在阻止儲蓄，這是站立貸款設施（SLF）。

As of August 26, 2024, the SLF rate from the Central Bank of Nigeria (CBN) is 31.75 percent. This rate is used by banks to borrow short-term funds from the CBN, whereas the same CBN pays 26.50 percent to banks that deposit excess funds with it.

截至2024年8月26日，尼日利亞中央銀行（CBN）的SLF率為31.75％。銀行使用此費率從CBN借入短期資金，而同一CBN向與其存入多餘資金的銀行支付了26.50％。

In a bid to streamline its monetary policy operations, the Central Bank of Nigeria (CBN) introduced a single-tier remuneration structure for its Standing Deposit Facility (SDF).

為了簡化其貨幣政策業務，尼日利亞中央銀行（CBN）為其常設存款設施（SDF）引入了單層薪酬結構。

This means all deposits under the SDF will now earn interest at the Monetary Policy Rate (MPR) minus 100 basis points. With the current MPR set at 27.50 percent, this translates to a fixed SDF rate of 26.50 percent.

這意味著SDF下的所有存款現在都將以貨幣政策利率（MPR）減去100個基點賺取利息。由於當前的MPR設置為27.50％，這意味著固定的SDF速率為26.50％。

Stakeholders also frown at the practice whereby the CBN mandates banks to set aside 50 percent of their deposits as Cash Reserve Ratio (CRR), yet, banks had paid interest on such deposits but cannot use them.

利益相關者還對CBN要求銀行將其存款的50％作為現金儲備比率（CRR）拋棄，但是，銀行已經支付了此類存款的利息，但不能使用它們。

CRR is a fraction of total deposits that banks must keep with the central bank. This is unremunerated, meaning that regardless of whether the banks got the deposits from their customers at a cost, the CBN does not pay the banks interest on such sterilized funds.

CRR是銀行必須與中央銀行保持的總存款的一小部分。這是不愉快的，這意味著無論銀行是否以一定的代價從客戶那裡獲得存款，CBN都不會支付此類消毒資金的銀行利息。

Essentially, a very high CRR radically reduces the loanable funds in the system, thereby reducing the amount of money available to chase a limited supply of foreign exchange and other products and services.

從本質上講，非常高的CRR從根本上減少了系統中的可貸資金，從而減少了可用的資金來追捕有限的外匯以及其他產品和服務。

To address these issues, the report recommends a mix of regulatory, structural, and market-based reforms.

為了解決這些問題，該報告建議將監管，結構性和基於市場的改革結合在一起。

It noted that the CBN should reduce the CRR from 50% percent to 20–25 percent to increase the amount of money banks can lend.

它指出，CBN應將CRR從50％降低到20-25％，以增加銀行可以藉貸的貨幣數量。

This would stimulate business expansion, job creation, and GDP growth.

這將刺激業務擴展，創造就業機會和GDP增長。

The CBN should also lower the MPR in a way that does not fuel inflation. A more balanced approach

CBN還應以不加油通貨膨脹的方式降低MPR。一種更平衡的方法