New CBN policy releases N771.4bn into the economy

By Emeka Anaeto, Economy Editor,L
LAGOS — Based on October 2015 data of the Central Bank of Nigeria, CBN, sighted by Vanguard, the yesterday’s decision of the apex bank to effect a 5.0 per cent cut in Cash Reserve Ratio, CRR, a total of N771.4 billion would be released to the banking system for commercial lending to the real sector. The CRR was reduced to 20 per cent from 25 per cent

CBN Governor, Mr Godwin Emefiele
This along with the other complementary rate cuts have been considered by financial analysts as the most significant amongst the several decisions of the CBN’s Monetary Policy Committtee, MPC since this year.
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http://www.vanguardngr.com/2015/11/new-cbn-policy-releases-n771-4bn-into-the-economy/