CBN cuts merchant banks’ CRR to 10%

The Central Bank of Nigeria (CBN) on Friday revised the Cash Reserve Ratio (CRR) of merchant banks to 10 percent from 32.5 percent. Haruna Mustafa, director, banking supervision disclosed this in a letter to all Merchant banks dated July 14, 2023. Read also: Tough times for Nigerian banks as CRR hits record high The CRR
read more CBN cuts merchant banks’ CRR to 10%Businessday NGRead More