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Tag Archives: commercial banks

Cash Reserve Requirement: CBN Withdraws N1tn From Banking System

Posted ago by admin

The Central Bank of Nigeria  began the implementation of its new 50 per cent Cash Reserve Requirement policy, which requires Deposit Money Banks to keep 50 per cent of all public sector funds with the central bank. Consequently, the CBN …

Cashless Policy to Be Introduced In FCT, Kano, Anambra, And Other States – CBN

Posted ago by admin

The Central Bank of Nigeria (CBN), following the success in the pilot of “Project Cashless Lagos”, has concluded arrangement to introduce similar policy in Abuja along with five other states. It is to be recalled that “Project Cashless Lagos” was launched …