The Central Bank of Nigeria (CBN), voted unanimously to keep the Monetary Policy Rate (MPR), at 11.5%.
Nigeria banks have had their vaults debited of N226 billion by the Central Bank of Nigeria in the apex bank's latest CRR sequesters.
In total, the CBN now holds a total of N6.57 trillion in CRR debits from the nation's top 5 banks
Too much cash, low yields, nowhere to invest
Information gathered by Nairametrics reveals about 17 banks had their vaults debited by the apex bank in CRR sequesters.
Sadly, this move, in addition to similar policies by the CBN, has left many banks cash-strapped and unable to pursue various profitable ventures.
Central Bank of Nigeria (CBN) has reduced the Monetary Policy Rate (MPR) from 13.50% to 12.50% and retains CRR at 27.5%, Liquidity ratio at 30%.
Many bankers and analysts were taken by surprise when, on the 24th of April, the CBN debited 29 commercial banks in Nigeria to the tune of...
With all its strides in profitability, foreign exchange gains, and even an increase of well over a billion in its net gains on financial instruments, one...
The Central Bank of Nigeria has debited commercial banks in Nigeria a whopping sum of N1.4 trillion for failing to meet Cash Reserve Requirement (CRR) targets....