What CBN’s new CRR means for banks, economy

Central Bank of Nigeria (CBN) policies is one of the main drivers of Nigerian financial system. CBN policy makers increased the Cash Reserve Ratio (CRR) to 27.5% while maintaining the Monetary Policy Rate (MPR) at 13.5%. These should reduce the amount of money available for banks to lend, essentially pressuring liquidity with a goal of reducing inflation levels.
Guardian