The wave of sacking that characterised the banking sector a couple of years back has not abated as the axes are dangling on more workers, ADEMOLA ALAWIYE writes Indications have emerged that more bank workers will lose their jobs in 2014 following cost-cutting measures about to be introduced by the […]
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75% CRR: CBN Withdraws N1tr Public Sector Funds From Banks Today
Banks may fire workers The Central Bank of Nigeria (CBN) will, from today, start withdrawing over one trillion naira (N1 trillion) public sector fund from deposit money banks as part of its new Cash Reserve Requirement policy. The new policy which called for the withdrawal of 75 per cent public […]
Can Nigerian banks overcome the CRR headwind? A macro perspective
The negative sentiment surrounding the banking sector was further heightened following the recent increase in the public sector CRR from 50% to 75%. Nigerian banks are indeed facing the challenge of tougher regulation on CRR and banks have continued to weigh the impact of high public sector CRR on revenue […]
