Cost of funds to fall as N193bn inflow is set to boost interbank liquidity
THE interbank money market will, this week, receive liquidity boost of N193 billion from maturing treasury bills prompting further decline in cost of funds.
Last week, the market was gripped with intense scarcity of funds, which caused cost of short term funds to rise above 100 per cent in the first half of the week, before dropping below 15 per cent in response to inflows from matured treasury bills (TBs) and statutory allocation funds.
CBN, ICAN, others disagree with Senate over MFBs Bill
Major stakeholders in banking and finance, on Monday disagreed with the Senate over its proposed amendment of laws on the regulation and supervision of Micro Finance Banks (MFBs) in the country.
Increased fiscal injection, Forex inflow to influence MPC decision
THE impact of expected increased fiscal spending on inflation and the need to sustain foreign exchange inflows from foreign investors will influence the outcome the Central Bank of Nigeria (CBN)’s Monetary Policy Committee (MPC)’s meeting holding today and tomorrow.
MAN seeks expansion of CBN’s Anchor Borrowers Programme
MANUFACTURERS Association of Nigeria, MAN, has proposed the expansion of the scope of Central Bank of Nigeria’s Anchor Borrowers Programme (ABP) to further boost production of key commodities and stabilize inputs supply to agro processors. Recall that the ABP scheme was introduced by CBN almost two years ago to boost domestic food production and save the country’s capital outflow as a result of about N1 trillion annual food import bill.
CBN has capacity to sustain forex intervention – expert
Dr Biodun Adedipe, the Chief Consultant in Biodun Adedipe Associates, says the Central Bank of Nigeria (CBN) has the capacity to sustain ongoing interventions in the foreign exchange.
Naira appreciates at NAFEX as CBN injects $195/$
The naira yesterday appreciated to N362.21 per dollar at the Nigeria Autonomous Foreign Exchange Market (NAFEX) window, even as the Central Bank of Nigeria (CBN), injected $195 million into the interbank foreign exchange market.
