Breaking News

CBN to limit banks’ appetite for govt securities

Kindly Share This Story:

By Emma Ujah, Abuja Bureau Chief

Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele

The Central Bank of Nigeria (CBN) is to limit Deposit Money Banks’ excessive appetite for government securities.

The Governor of CBN, Mr. Godwin Emediele, announced this at a press briefing on the decisions of the Monetary Policy Committee (MPC) meeting which ended this afternoon in Abuja.

According to him, the step became necessary to curtail banks’ focus on investing in government debt instruments, while neglecting their roles of lending to the private sector, to bring about the needed growth in the economy.

Mr. Emefiele also announced MPC’s decision to retain the Monetary Policy Rate (MPR) at 13.5 per cent, along with all other parameters.

Why we’re diversifying bonds’ investors base —DMO DG(Opens in a new browser tab)
Details later…

Kindly Share This Story:
All rights reserved. This material and any other digital content on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from VANGUARD NEWS.


Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.
Do NOT follow this link or you will be banned from the site!