The Bank Directors of Nigeria has expressed concern over the Central Bank of Nigeria’s recent increase in the Cash Reserve Ratio on public sector deposit from 50 per cent to 75 per cent. The directors, in a statement on Wednesday, observed that raising the ratio by 25 per cent just […]
Tag: Public Sector Deposits
75% CRR: Banks to cut jobs, operating costs
Less than 24 hours after the Monetary Policy Committee of the Central Bank of Nigeria announced the increase in the Cash Reserve Requirement on all public sector deposits to 75 per cent, indications have emerged that Deposit Money Banks are already considering job cuts and massive reduction in other operating […]
