30 results
- 24 Jan 2020
CBN hikes Cash Reserves Ratio to 27.5 percent
The Central Bank of Nigeria, CBN, has increased the Cash Reserves Ratio, CRR, of banks from 22.5 per cent to 27.5 per cent. The alteration was done by the Monetary Policy Committee of the CBN. The…
- 5 Feb 2024
CBN Issues 50 Percent Cash Reserve Requirement Levy on banks
Central Bank of Nigeria (CBN), has issued a 50-cent Cash Reserve Requirement levy on the lending shortfall that will be enforced for banks that do not meet the minimum Loan to Deposit Ratio, LDR. The…
- 11 Jan 2021
CBN Slams Fresh N600Bn CRR Debit on Banks
Central Bank of Nigeria (CBN) has imposed on banks another N600 billion Cash Reserve Ratio (CRR) debit in a bid to combat idle cash in the interbank money market. This comes as excess liquidity in…
- 5 Jul 2020
CBN Debits Banks N1.977.7trn to Tightens Liquidity
Central Bank of Nigeria (CBN) has debited close to N2 trillion from several banks in the last quarter in line with its Cash Reserve Ratio (CRR) compliance requirement, and this has left many banks…
- 5 Jun 2020
CBN Debits 26 Banks N459.7Bn for CRR Default
Central Bank of Nigeria (CBN) has penalised 26 banks for failing to meet the Cash Reserve Ratio Target (CRR). The debit made by the apex bank amounted to NN459.7 billion. The deductions were made by…
- 17 May 2026
Chapel Hill Denham Says Banks Lose N2.5 Trillion Annually to High CRR in New Report
Nigeria’s banking sector is losing an estimated N2.5 trillion in annual earnings due to the Central Bank of Nigeria’s high Cash Reserve Ratio (CRR) policy, according to a new report by Chapel Hill…
- 23 Mar 2016
CBN Raises Interest Rate Benchmark to 12%
Central Bank of Nigeria (CBN) unexpectedly raised the benchmark interest rate from 11 to 12 percent on Tuesday. The bank also raised the cash reserve ratio (CRR) for commercial banks to 22.5 percent…
- 22 Dec 2020
CBN Debits Banks N349.72Bn for Failing to Meet CRR
Central Bank of Nigeria (CBN) debited about 23 Deposit Money Banks (DMBs) in the country N349.72 billion towards the end of last week, for failing to meet Cash Reserve Ratio (CRR) targets. According…
- 1 Feb 2021
Nigeria Monetary Policy Makers in Tight Spot as Stagflation Takes Hold
By Lukman Otunuga, Senior Research Analyst at FXTM Nigerian monetary policymakers face three main pressures this quarter: the ongoing COVID-19 pandemic and a pressing need for economic stimulus in…
- 24 Sept 2024
CBN Raises Interest Rate to 27.25 Per cent
Monetary Policy Committee of the Central Bank of Nigeria has voted to increase the monetary policy rate, which measures the benchmark interest rate, to 27.25 per cent. The monetary policy rate is the…
- 18 Sept 2016
Fidelity Bank MD Explains Why Banks don’t Give Long Term Loans
Mr. Nnamdi Okonkwo, managing director, Fidelity Bank Plc, has said that the inability of commercial banks to give long-term credit facilities is due to the non-availability of long-term-deposits by…
- 5 Jul 2019
CBN sets Regulation to Boost Lending
The Central Bank of Nigeria has told banks to maintain a minimum loan-to-deposit ratio of 60% by September, part of a series of regulatory measures aimed at getting credit flowing in Africa’s biggest…
- 2 Feb 2024
CBN Halts Daily CRR Debits on Banks
Central Bank of Nigeria (CBN) on Friday announced the discontinuing of daily Cash Reserve Requirements (CRR) debits and introducing a revised mechanism. This was announced in a circular to all banks,…
- 27 Aug 2021
Agusto & Co: Elevated CRR Level Moderated Banking Industry’s Performance in FY 2020
The Nigerian banking industry would have recorded a return on average equity (ROE) of 31.6 per cent if not for the aggressive implementation of the cash reserve requirement (CRR) policy in 2020,…
- 31 Jan 2020
Nigeria Monetary Policy Makers Balk at Rising Inflation
By Lukman Otunuga, Senior Research Analyst at FXTM, In January, the Central Bank of Nigeria (CBN) decided to hold the lending interest rate at 13.5 percent and significantly increase the Cash Reserve…
- 3 Sept 2014
Nigeria’s “Too Big to Fail” Banks Shop for N405Bn Lifeline
Banks in Nigeria particularly the big four banks considered "too big to fail" are all in the market shopping for some N405 billion from both local and foreign sources to shore up their cash reserves.…
- 25 May 2021
CBN Retains Lending Rate at 11.5%
The Monetary Policy Committee MPC of the Central Bank of Nigeria CBN has retained the Monetary Policy Rate at 11.5 per cent. Governor of the Central Bank of Nigeria CBN, Godwin Emefiele, disclosed…
- 27 Jul 2021
No More Forex Sales to Bureau De Change Operators- CBN
Central Bank of Nigeria (CBN) has stopped the sales of forex to the Bureau De Change operators in the country with immediate effect. Godwin Emefiele, governor, CBN, disclosed this after the Monetary…
- 26 Jul 2016
Analysts React to CBN New MPR, Falling Naira
Mr. Lukman’ Otunuga, research analyst of FXTM, said the global markets received with shock the Central Bank of Nigeria’s decision to increase the monitory policy rate from 12 to 14 per cent. Otunuga…
- 22 Mar 2017
Banks Becoming Less Resilient- CBN
Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) yesterday said that the adverse macroeconomic environment, which had led to massive job losses and declining profitability, was…
- 22 Sept 2015
CBN Makes U-Turn, to Inject Naira into the Economy
Central Bank of Nigeria (CBN) yesterday loosened monetary policy by injecting liquidity into banks, in a bid to stave off recession in Africa's biggest economy, which has suffered as oil prices fell.…
- 19 Apr 2023
CBN Fueling Inflation it Seeks to Curb - Report
Central Bank of Nigeria (CBN) continued financing of the government’s fiscal deficit is limiting the impact of its longest phase of monetary tightening since 2011 as rising money supply drives…
- 19 Sept 2016
CBN Officials in Forex Scandal, Allegedly Launder Forex Through Phony Firms
A major scandal has hit the new foreign exchange policy of the Central Bank of Nigeria (CBN) as it is now riddled with sharp practices. The policy, which was introduced in March and…
- 26 Jul 2016
Don’t Panic over Health of Nigerian Banks - CBN
Godwin Emefiele, governor, Central Bank of Nigeria (CBN), yesterday admitted that given the shocks in the economy currently, there is no doubt that the banking sector was facing its own share of the…
- 24 May 2017
CBN Retains 14% Interest Rate
The Central Bank of Nigeria (CBN) on Tuesday retained the Monetary Policy Rate (MPR) otherwise known as interest rate at 14 per cent. The apex bank disclosed this at the end of its Monetary Policy…
- 26 Jan 2021
CBN Opposes Fresh Lockdown as Interest Rate Remains at 11.5 Per Cent
Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday urged the Federal Government not to consider another round of lockdown. Godwin Emefiele, CBN governor Godwin Emefiele,…
- 22 Mar 2017
There’re Signs CBN May Cut Monetary Policy Rates Soon- Lukman
In spite the Central Bank of Nigeria (CBN) Monetary Policy Committee’s decision on Tuesday to retain the country’s benchmark interest rate at 14 percent, Lukman Otunuga, research analyst at Forex…
- 17 Sept 2021
CBN Retains Monetary Rate @ 11.5%
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has voted to retain the country’s monetary policy rate (MPR) for another period. This was disclosed by the Governor of the…
- 27 Feb 2024
Over $26bn from Unknown Sources Passed through Binance Nigeria in one year – CBN
Central Bank of Nigeria (CBN) governor, Yemi Cardoso has stated that over $26 billion passed through the crypto app, Binance Nigeria in the last one year. Cardoso stated this on Tuesday, February 27…
- 8 Jan 2024
CBN Debts Banks’ N576.20Bn via CRR
Central Bank of Nigeria (CBN) last week debited some commercial banks to the tune of N576.20 billion through the Cash Reserve Requirement (CRR). CRR is the minimum amount banks and merchant banks are…