Nigeria: 'Tier 1 Banks Will Be Insulated From CRR Hike'

6 August 2012

The Managing Director/Chief Executive Officer, Financial Derivatives Company Limited (FDC), Mr. Bismarck Rewane, has said the operations of the tier 1 banks will not be affected by the recent hike in the cash reserve requirements (CRR), due to the cheap funds available to them.

The FDC boss made the declaration in his monthly economic news and views, presented at the Lagos Business School's executive breakfast meeting, a copy of which was made available to THISDAY at the weekend.

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