Nigeria: RenCap - 12 Percent CRR Punitive for Banks

21 January 2013

Analysts at Renaissance Capital Limited (RenCap) have described the 12 percent cash reserve ratio in the country as high and punitive.

In fact, RenCap urged the Central Bank of Nigeria (CBN) to reduce the CRR, which is the ratio of cash which banks have to maintain with the apex bank.

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