Tough times for Nigerian banks as CRR hits record high

Godwin Emefiele, the suspended CBN governor

Nigerian banks will face increasing pressure on their profitability following a bumper increase in their Cash Reserve Requirement (CRR) by the Central Bank of Nigeria (CBN). Already one of the highest in the world, the CBN hiked banks' CRR by 500 basis points to 32.5 percent on Tuesday from

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