Arbitrage: CBN directs banks to reverse loan funded TB transactions
Warns against circumvention LDR directive By Emeka Anaeto & Babajide Komolafe The Central Bank of Nigeria (CBN) has directed banks to reverse customers’ investments in treasury bills funded with loans, describing the practice as arbitrage and circumvention of its 65 per cent loan-to-deposit ratio (LDR). Recall that the CBN in an attempt to increase lending to […]
Cost of funds to fall as N606bn inflow boosts interbank liquidity
THE rise in the cost of funds in the interbank money market last week will be reversed this week due to inflow of N606 billion inflows from maturing treasury bills (TBs)
Furore over CBN’s new cashless policy
The Central Bank of Nigeria’s directive that, from Wednesday, September 18, 2019, Deposit Money Banks would impose three per cent processing fees for withdrawals and two per cent processing fees for lodgments of amounts above N500,000 for individual accounts has stirred some controversies among members of the public.
Aggressive pursuit of economic growth and development
The Central Bank of Nigeria, CBN, has been aggressive with initiatives in the pursuit of economic growth and development, especially in the agriculture sector and local manufacturing. It is using both development finance initiatives and interventionism in the pursuit and it is expected that the efforts of the apex bank will be complemented with the anticipated initiatives of the newly constituted Economic Advisory Council, EAC
Cashless policy: Let’s support CBN to stop subsidy of the rich by the poor
HUGE circulation and adoption of cash are very costly to every economy. It is costly to the government, businesses and individual citizens.
MPR retention: Experts predict increase in foreign investors’ participation
Financial experts on Monday expressed optimism that retention of the interest rate by the Monetary Policy Committee (MPC) would likely trigger foreign investors’ participation in emerging Nigerian markets.
Cashless policy: Don cautions CBN on what could negate financial inclusion
Dr Aminu Usman, Head, Economics Department, Kaduna State University, has urged the Central Bank of Nigeria (CBN) to carry out robust campaigns to sensitise Nigerians to understand the need for bank charges on deposits and withdrawals.
CBN targets 70, 000 farmers under Anchor Borrowers Programme in Borno
The Central Bank of Nigeria (CBN) says it has targeted about 70, 000 farmers and business under its Anchor Borrower Programme (ABP) in Borno for 2019.
CBN wins 33rd edition of financial institutions football competition
The Central Bank of Nigeria (CBN) on Saturday won the 33rd edition of the Financial Institutions football competition by defeating the Unity Bank team 1-0 in the final. The match played inside the Pa Ngele Oruta stadium, saw the CBN team’s goal coming in the second half through a ‘contested’ penalty kick. The match was watched […]
Central Bank of Nigeria wins 33rd edition of financial institutions football competition
The Central Bank of Nigeria on Saturday won the 33rd edition of the Financial Institutions football competition by defeating the Unity Bank team 1-0 in the final. The match played inside the Pa Ngele Oruta stadium, saw the CBN team’s goal coming in the second half through a ‘contested’ penalty kick. The match was watched […]
CBN backs FG’s plan to increase VAT, says Nigeria has lowest
Mr Godwin Emefiele, the Governor of Central Bank of Nigeria (CBN), says the plan to increase Value Added Tax (VAT) from five per cent to 7.5 per cent is in the right direction to raise country’s revenue. Emefiele stated this while fielding questions from journalists after the Monetary Policy Committee meeting held in Abuja. He […]
