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 […]
Tag: Central Bank
Nigeria sells N114.9 billion in Treasury bills
By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)- The Central Bank of Nigeria (CBN) announced that Nigeria sold N114.89 billion worth of treasury bills of maturities ranging between three (3) month and one year, with yields slightly higher on 91-day and 364-day paper and flat on the 6-month note. According to the […]
50% CRR: Analysts disagree with CBN
Financial analysts have disagreed with the Central Bank of Nigeria over the imposition of 50 per cent Cash Reserves Requirement on all government deposits with commercial banks. They said the introduction of such additional instrument by the Monetary Policy Committee, which ended a two-day meeting in Abuja on Tuesday, would […]
