By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)- The Nigeria’s Central Bank Tuesday retained the Monetary Policy Rate (MPR) at 12 percent (12%) consecutively for the fourteenth time following its Monetary Policy Committee (MPC) held January 20-21 2013 in Abuja Nigeria. However, the public sector cash reserve requirement (CRR) was tightened to […]
Tag: Cash Reserve Requirement
CRR: Banks may limit participation in bond market
Capital market analysts have said banks may reduce their positions in the fixed income market after the implementation of the Central Bank of Nigeria’s 50 per cent Cash Reserve Requirements on public sector deposits took effect on Wednesday. According to analysts at Meristem Securities Limited, in a report on the […]
Severe Sanction Awaits Defaulting Banks on 50% CRR
By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) Thursday announced that severe sanctions awaits defaulting banks on the newly introduced 50 percent (50%) cash reserve requirement (CRR) on all public funds deposits in the banks. This is contained in a circular with reference number BSD/DIR/GEN/LAB/06/034 dated July […]
