The Central Bank of Nigeria has stopped daily Cash Reserve Requirement (CRR) debits for banks and will be adopting an updated CRR mechanism that is intended to facilitate banks’ capacity for planning, monitoring and aligning with records with the CBN.
This was contained in a statement signed by the acting Director, Banking Supervision Department, Dr. Adetona .S. Adedeji, disclosed on February 2, 2024.
…see attached details to clear your doubt👇
