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 […]
Tag: CRR
CBN to withdraw N1tn from banks Feb 4
Following the increase of the Cash Reserve Requirement on public sector deposits from 50 per cent to 75 per cent last week by the Monetary Policy Committee, the Central Bank of Nigeria will on February 4 withdraw an estimated sum of N1tn from the Deposit Money Banks when the policy […]
CBN Communiqué No. 91 of the MPC Meeting of Monday and Tuesday, Sept 23 and 24, 2013
The Monetary Policy Committee met on September 23 and 24, 2013, with all of the 12 members in attendance. The Committee reviewed the economic conditions and challenges that confronted the domestic economy up to September, particularly since the last MPC meeting in July 2013. It re-assessed the short-to-medium term risks […]
