Reserve Requirement Framework Implementation News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The Central Bank of Nigeria (CBN) has announced the stoppage of the daily Cash Reserve Requirement (CRR) debits for banks. In a circular issued on Friday, addressed to all banks with Ref: BSD/DIR/PUB/LAB/016/027, the apex bank said that it would be adopting an updated Cash Reserve Requirement (CRR) mechanism which it said was intended to facilitate banks’ capacity for planning, monitoring and aligning their records with the CBN.

Commercial banks in the country are heaving a sigh of relief as the Central Bank of Nigeira (CBN) reversed to its old ways of calculating and deducting cash