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Home Business News Politics

B-R-E-A-K-I-N-G: CBN reduces public sector CRR to 31%

Nairametrics by Nairametrics
May 19, 2015
in Politics, Spotlight
B-R-E-A-K-I-N-G: CBN reduces public sector CRR to 31%
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  • The CBN governor has just announced that the monetary policy committee as announced it is reducing Public Sector CRR from 75% to 31%.
  • It consequently, increase private sector CRR from 20% to 31%
  • The CBN MPC also agreed to hold benchmark interest rate unchanged at 13%.
  • Liquidity ratio was left at 30%
  • This is the last policy meeting before President-elect Muhammadu Buhari takes office in Africa’s biggest oil producer on May 29.
  • More to follow

 

Nairametrics

Nairametrics

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

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Comments 3

  1. Nwachukwu says:
    May 19, 2015 at 5:04 pm

    Boom!!!

    Reply
  2. Ekwueme Mike Anyadibe says:
    May 19, 2015 at 9:18 pm

    It is actually a 11.42% reduction frm harmonized CRR – 35% (Feb-2015) to harmonized CRR – 31% (May-2015).

    Reply
    • Nairametrics says:
      May 20, 2015 at 1:42 am

      How did you arrive at 35%?

      Reply

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