CBN to intensify liquidity mop up as interbank receives N552bn inflow
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
CBN moves to reduce credit risk in mortgage financing
THE Central Bank of Nigeria (CBN) has announced the introduction of Mortgage Guarantee Companies (MGCs), aimed at reducing credit risk in the mortgage finance sector as well as increase access to mortgage loans.
CBN injects $337m, CNY53m into Inter-Bank Forex Market
In another round of intervention, the Central Bank of Nigeria (CBN), on Friday, injected over 337 million dollars in the Inter-Bank Foreign Exchange (Forex) market.
CBN mandates DMBs, PSPs to investigate IT staff
THE Central Bank of Nigeria (CBN) has mandated Deposit Money Banks (DMBs) and Payment Service Providers (PSPs) to conduct background checks on employees who implement, enforce and review their technical and physical security controls in order to tackle fraud perpetrated by bank staff.
FSDH analysts project tighter monetary policy in Q4’18
FSDH Merchant Bank analysts have projected that the Central Bank of Nigeria, CBN, will tighten monetary policy in the fourth quarter of the year by increasing the Cash Reserve Requirements, CRR, of banks.
CBN revokes licence of microfinance bank
The Central Bank of Nigeria, CBN, yesterday, said it has revoked the licence of Garu Microfinance Bank, a microfinance institution in Bauchi state.
