Inflation: CBN hikes in banks’ Cash Reserve Ratio, CRR to 45 per cent.
The Federal Government in its effort to curb the rise of inflation in the country will lead to a N5trn cash mop up from the banking industry as CBN implements the hike of in banks’ Cash Reserve Ratio, CRR to 45 per cent. The CRR which represents banks’ cash reserves for purposes of meeting cash…