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CBN says Keystone Bank remains safe.
14/02/2025

CBN says Keystone Bank remains safe.

14/01/2025


No need for hoarding of the naira!
13/12/2024

No need for hoarding of the naira!

Governor of the Central Bank of Nigeria, Mr Olayemi Cardoso in his keynote address at the 59th Annual Bankers Dinner of ...
30/11/2024

Governor of the Central Bank of Nigeria, Mr Olayemi Cardoso in his keynote address at the 59th Annual Bankers Dinner of the Chartered Institute of Bankers of Nigeria (CIBN)
has warned financial institutions found engaging in malpractices or deliberate sabotage of seamless cash flow for Nigerians to desist.
Cardoso urges customers to report difficulties withdrawing cash from bank branches or ATMs directly to the CBN with effect from December the 1st, 2024.

Analysis of the CBN Monetary Policy Committee decisions at it's September meeting by Jude Ezugwu FCA *MPR (Monetary Poli...
26/09/2024

Analysis of the CBN Monetary Policy Committee decisions at it's September meeting by Jude Ezugwu FCA

*MPR (Monetary Policy Rate):* The interest rate at which the CBN lends to commercial banks has been increased to 27.25%. This means loans from banks are likely to become more expensive.

*CRR (Cash Reserve Ratio):* Commercial banks must now hold 50% of their deposits in reserve with the CBN. For merchant banks, this is 16%. This reduces the amount of money banks have available to lend.

*LR (Liquidity Ratio):* Banks are required to keep 30% of their total deposits in liquid assets like cash or government bonds to ensure they have enough money to meet short-term obligations.

*AC (Asymmetric Corridor):* The rate banks earn on deposits with the CBN is higher (+500 basis points), but they will lose more if they borrow from the CBN (-100 basis points).

*2. Significance (Positively and Negatively) to Nigeria's Economy*

*Positive Impacts:*

*_Attracting Foreign Investment:_* Higher interest rates could attract foreign portfolio investors looking for better returns, which could help stabilise the exchange rate and increase foreign reserves.

*_Inflation Control:_* By raising the MPR and tightening the CRR, the CBN reduces the money supply. This helps to slow down inflation by reducing demand.

*Negative Impacts:*

*_Higher Cost of Borrowing:_* Increasing the MPR makes loans more expensive for businesses and individuals, potentially reducing investment and spending, which could slow down economic growth.

*_Limited Access to Credit:_* With the CRR at 50%, commercial banks have less money to lend. This could make it more difficult for businesses, especially small and medium-sized enterprises (SMEs), to access the credit they need.

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