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Tag Archives: n160

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 …

Naira Falls To N159, Weakest In 10 Months

Posted ago by admin

Nigerian Naira fell to its weakest level in almost 10 months on the interbank market on Friday, driven down by strong demand for the dollar by offshore investors exiting the bond market and repatriating dividends, traders said. Naira closed at …