The Central Bank of Nigeria has debited the sum of N838.32 billion from 15 banks for not meeting the minimum cash reserve ratio (CRR). The CRR is the percentage of customers’ deposits that must be kept with the central bank. At its current rate of 32.5%, commercial banks must deposit N325 for every N1,000 deposited … Continue reading Nigeria’s CBN Debits N838.32 Billion From 15 Banks