2012-07-25 | FPR/DIR/CIR/GEN/VOL.01/027

Review of Cash Reserve Requirement

This circular from the Central Bank of Nigeria's Financial Policy & Regulation Department informs all deposit money banks in Nigeria that the cash reserve requirement rate has been raised by 400 basis points, from 8% to 12%, effective July 25th, 2012. Additionally, the excess cash reserves above 8% will be remunerated at a rate of 3% per annum, while the maintenance period remains unchanged.

Nigeria

Central Bank of Nigeria

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