You are here
Home > News > Just in: Banks to increase CBN deposit as MPC raises CRR to 27.5%

Just in: Banks to increase CBN deposit as MPC raises CRR to 27.5%

Spread the love

Deposit money banks in the country would have to increase their cash reserves with the Central Bank of Nigeria as the monetary policy committee of the bank voted to raise cash reserve ratio to 27.5%.

Monetary policy rate, which impacts interest rate, should remain at 13.5%.

Godwin Emefiele, the CBN governor, announced this on Friday after a two-day meeting of the committee.

More to follow…

Lady Decency
Decency Global News is one of the world's finest blog you can see anywhere around the world. We deal on fresh facts with indept analysis & investigative reporting across the globe. We advertise & market goods & services for corporate bodies and individuals as well as event management & Public Relations consultation…. We appreciate constructive criticism to serve you better. Welcome & enjoy the news... Contact: ella4decency@gmail.com Tell: +234 803 744 6365 +33757936595

Leave a Reply

Top