CBN Unvailed 4-pillars Framework for the Second Phase of Banking System Reforms.

The Central Bank of Nigeria recently unveiled the next phase of banking reforms which are targeted at enhancing the quality of banks, establishing financial stability, enabling healthy financial sector evolution and ensuring meaningful financial sector contribution to real economy while stressing that the merger and acquisition of the eight bailed- out banks are at the stage of technical due diligence. Also, the MPC recently took the below decisions.

? MPR to remain at 6.0%,
? Lending interest to remain at 8.0%
? Deposit interest rate reduced from 2% to 1%.

What do think will be the economic implication(s) of all these on the banking system, the Nigerian masses as well as the economy as a whole?