CBN reduces CRR to 25%, warns of economic recession in 2016

AS the Central Bank of Nigeria (CBN) continued with its tightening stance to check inflation by retaining most of the key rates like the Monetary Policy Rate (MPR) at 13 per cent and the liquidity ratio at 30 per cent, it has however reduced the Cash Reserve Requirement (CRR) to 25 per cent from its former level of 31% as a response to the partial mopping of public sector deposits in commercial banks to its coffers under the Treasury Single Account (TSA) fiscal policy of the Federal Government.

Mathias Okwe, Assistant Business Editor