CBN taps cash reserve ratio debits as backdoor of piling OMO costs


Nigeria’s central bank is using discretionary Cash Reserve Ratio (CRR) debits as a backdoor of mopping liquidity in the banking sector following the balance sheet damage done by issuing Open Market Operations (OMO) bills at high interest rates over the past three years, according to sources familiar with the matter. By debiting banks over CRR…

Subscribe to BusinessDay to read full article – N1000 for 2 Month

Get real time updates directly on you device, subscribe now.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.