MPC to retain policy rates as DMO floats N100bn bond auction
IN spite of the two months consecutive decline in inflation rate, improved stability of the exchange rate and decline interest rate on fixed income instruments, the Monetary Policy Committee, MPC, of the Central Bank of Nigeria, CBN, is expected to retain the Monetary Policy Rate, MPR, and other benchmark rates at same level at the end of its 266th meeting holding today and tomorrow.
IFRS9: CBN relaxes implementation of rules for bad loans
THE Central Bank of Nigeria (CBN) has relaxed the time limit for commercial banks to absorb impairments from implementation of IFRS9 rules on bad loans.
Where is $7bn CBN placed with 14 Banks?
THE subject of the narrative, in this column, last week, was the $7bn which Festus Odoko, former CBN Corporate Affairs Director, confirmed had been deposited with 14 Nigerian banks in October 2006. It is not clear how many banks, actually, succeeded in raising the mandatory capital base of N25bn, and the additional N35bn steep threshold, required to manage part of Nigeria’s foreign reserves; nevertheless, on hindsight, CBN may have quietly dropped this clearly ambitious requirement, so as to pursue its declared agenda.
CBN to combat N1.6trn excess liquidity in February amidst rising business confidence
THE Central Bank of Nigeria, CBN, is set to intensify its liquidity mop up efforts to deal with excess liquidity of N1.6 trillion expected in the interbank money market this month, amidst rising business confidence over improved macroeconomic conditions during the month.
Central Bank cuts interest rate to boost economy
India’s central bank, on Thursday, unexpectedly lowered interest rates and, as anticipated, shifted its stance to “neutral” from “calibrated tightening” to boost a slowing economy after a sharp fall in the inflation rate.
CBN, Dangote target Nigeria’s self sufficiency in tomato production
Nigeria is set to achieve self sufficiency in tomato production in the next one year following the attainment of daily production of one million tomato nurseries.
