Angry reactions is trailing the letter purportedly written by Sanusi Lamido Sanusi, CBN governor, alleging non-remittance of $49.8 billion by the Nigerian National Petroleum Corporation (NNPC)
It is obvious that with increase in the Cash Reserve Ratio (CRR) on public sector funds from 50 percent last year to 75 percent last week, bank earnings will reduce and the cost of funds will increase.
August last year, the Central Bank of Nigeria (CBN) increased the CRR on public deposits to 50 per
```
Members Only
Login or create an account to continue
This article is available to registered BusinessDay readers. Please login if you already have an account, or create a new account to continue reading.
New to BusinessDay? Register now and start reading.
```
BusinessDay
Nigeria's leading finance and market intelligence news report. Also home to expert opinion and commentary on politics, sports, lifestyle, and more
