The Central Bank of Nigeria (CBN) has announced an end to the daily Cash Reserve Ratio debits for commercial banks in the country. The apex bank says it will adopting an updated Cash Reserve Requirement mechanism for Nigerian banks. This was contained in a circular titled ‘Cash Reserve Requirement Framework Implementation Guidelines’ signed by its Acting
Naira scarcity to ease as banks open Saturday, Sunday
The Central Bank of Nigeria, CBN on Friday directed all Commercial banks to open for operation on Saturdays and Sundays as part of a coordinated effort to ease the circulation of banknotes of various denominations. It also confirmed the evacuation of banknotes from its vaults to commercial banks across the country to address the hardship