Alert: Central Bank of Nigeria Circular BSD/DIR/PUB/LAB/016/027
Title: Cash Reserve Requirement (CRR) Framework Implementation Guidelines
Summary: The Central Bank of Nigeria is implementing an updated Cash Reserve Requirement (CRR) mechanism that will no longer involve daily CRR debits. Commercial banks will have a ratio of 32.5% and merchant banks 10% applied to increases in their weekly average adjusted deposits. Banks that do not meet the minimum Loan to Deposit Ratio (LDR) will be subject to a CRR levy of 50% of the lending shortfall.
Posted on: Friday, February 2, 2024
Download: BSD/DIR/PUB/LAB/016/027