Nigeria: CBN Raises Benchmark Interest Rate allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.
The committee voted to retain the Cash Reserve Ratio (CRR) at 45 per cent for commercial banks and adjust the CRR of merchant banks from 10 per cent to 14 per cent.
Days after the CBN’s call for banks to expedite their recapitalisation efforts, the unveiling of new minimum capital requirements underscores the gravity of