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CBN
After two consecutive years of a bearish run in the equities market (2018 -17.8% and 2019 -14.6%), we begin 2020 on a positive note.
The Monetary Policy Committee of the Central Bank of Nigeria (@cenbank) has raised the Cash Reserve Ratio by 500 basis points to 27.5%. Meanwhile, other parameters such as Monetary Policy Rate, Liquidity ratio, and asymmetric corridor remain unchanged.
In a bid to encourage more people to use e-payment channels, especially PoS machines, CBN has disclosed that it would introduce new rules.
The report explains why a 5-10% devaluation of the naira is plausible amidst the CBN's recent monetary policies.
Guaranty Trust Bank, Nigeria's largest bank by market capitalization, has crashed its interest rate for its payday loans from 1.75% to 1.33% per month. The bank reviewed its rate, which is published on its website, as it becomes one of the lowest in the lending space. #GTBANK
The Treasury Bills Auction of the Central Bank of Nigeria (CBN) that held last Wednesday was oversubscribed in spite of the low rates.
A thread on Twitter about the CBN and its “comatose” fiscal policies took a hilarious turn when it was accused of establishing a poultry farm.
President Muhammadu Buhari has nominated Dr Kingsley Obiora as Deputy Governor of the Central Bank of Nigeria (CBN).
The Central Bank of Nigeria (CBN) has postponed the first Monetary Policy Committee (MPC) meeting of 2020.
Commercial banks in Nigeria are set to begin the recovery of N6.125 trillion borrowed to oil firms in a bid to braze themselves for recapitalisation.
Indications suggest that the CBN would announce a recapitalisation plan this year as commercial banks start to prepare ahead of this move.
Commercial banks borrowed N19.64 trillion from the Central Bank of Nigeria in 2019, indicating a 73% increase from the N11.36 trillion borrowed in 2018.