Banks’ deposit with CBN to rise by 22% on new CRR implementation

Banks’ deposit with CBN to rise by 22% on new CRR implementation

It is likely going to be a tough year for the banking sector, following the new Cash Reserve Ratio (CRR) announced by the Central Bank of Nigeria (CBN) on Friday, which will lead to lenders’ deposit with the regulator rising to about 22 percent. With eyes on rising inflation and surging liquidity, the CBN on…

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