THE quest for cheaper funds by corporate bodies and fear of non-performing loans by banks have triggered a boom in the market for Commercial Papers, CP, with the market growing by 270 percent in the third quarter of the year (2018).

WITH dollar inflow into the Investors and Exporters window, I&E, falling by 42 percent in October, and the external reserves maintaining its downward trend, losing another $2.639 billion since the last meeting of the Monetary Policy Committee, MPC, of the Central Bank of Nigeria, CBN, in September, economic analysts have projected that the committee, at the end of its meeting this week, will maintain its policy rates in deference to the need to sustain dollar inflow from foreign portfolio investors in the nation’s debt market with a view to forestall the declining trend in the reserves and demand pressure in the nation’s foreign exchange market. 

The Central Bank of Nigeria (CBN) on Saturday rescheduled the Nov. 19 meeting of the Monetary Policy Committee (MPC) to Nov. 21 and 22 to accommodate the Eid-El Maulud celebrations.

THE Central Bank of Nigeria (CBN) is expected to intensify efforts to mop up liquidity from the banking system this week in response to inflow of N552 billion from matured treasury bills (TBs). Last week, the apex bank issued secondary market (Open Market Operations, OMO) TBs to mop up N316.23 billion from the interbank money market following the inflow of N375.98  billion from matured TBs

The Central Bank of Nigeria (CBN) has extended the Nigerian Uniform Bank Account Number (NUBAN) scheme meant for banks to Other Financial Institutions (OFIs).