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Interbank rates’ volatility to persist as DMO issues N135bn bond

THE volatility in cost of funds in the interbank money market will persist this week as the Debt Management Officer (DMO) issues FGN Bond of N135 billion. The market experienced wide swings in short term cost of funds, last week, due to funds outflow occasioned by Central Bank of Nigeria’s (CBN) liquidity mop-up through treasury bills and dollar sales.

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NASS set to pass Bill expanding the scope CIS

VICE Chairman, Senate Committee on the Capital Market, Senator Festus Ogwuma, has disclosed that the Bill to expand the scope of operations of the Chartered Institute of Stockbrokers (CIS) would be passed very soon. In a similar vein, the Finance Minister, Mrs. Kemi Adeosun has assured stockbrokers of the government’s continuous support for them as distribution agents in the value chain of financial intermediation.

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Banks burdened by cost of securing IT platforms – Wema Bank

Banking industry has been experiencing new types of risks associated with the use of technology for banking services. These risks could be due to human error, systems failure, fraud and cybercrimes. Banks in Nigeria have lost a lot of money to various fraudulent practices perpetrated through electronic channels. Fraud attempts, successful frauds, hacks and scams have steadily increased as banking takes center-stage in the digital world.

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