CBN and the economy, going forward
CONSIDERING the characteristics of the Nigerian economy which had made it to be resistant to guidance and discipline and remained factor-driven for 58 years, the Central Bank of Nigeria, CBN, deserve commendation for evolving and implementing policies that tend towards reinventing the structure of the economy to improve local production, expand the country’s industrial base and create more employment, a development that needs to be sustained going forward
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.
National Collateral Registry facilitates N1.2trn loan to 155,000 SMEs
The National Collateral Registry has assisted over 154,000 Micro, Small and Medium Enterprises (MSMEs) to access N1.2 trillion loans from 628 financial institutions.
