Tag
MONETARY POLICY
The federal government has raised N225.714 billion in the July 2024 bond auction, which is about 75% of its target as demand for short-term bonds weakens.
Nigeria Labour Congress (NLC) Development Policy Analyst, Hauwa Mustapha has stated that macro-economic trends are yet to display positive signs in the economy.
As the Nigerian economy adjusts to a state of persistent inflation, driving a monetary policy that embraces high interest rates, discerning investors are increasingly seeking safe havens to protect their capital.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has announced that the federal government has settled a swooping N7.3 trillion in ways and means advances to the Central Bank.
In the evolving landscape of global finance, the independence of central banks is sacrosanct, forming the cornerstone upon which monetary stability rests.
The Central Bank of Nigeria (CBN) successfully conducted an auction of Nigerian Treasury Bills (NTBs) on March 27, 2024, which saw a substantial amount of N1.64 trillion being sold, as shown in the auction result report.
Peter Obi, the presidential candidate for the Labour Party in the last general election, has expressed concern that raising the Monetary Policy Rate (MPR) and Cash Reserve Ratio (CRR) to 22.75% and 45% respectively will adversely affect the economy.
Mr. Olayemi Cardoso, the CBN headmaster, is implementing a strategy involving the removal of subsidies, floating the Naira, and encouraging foreign portfolio investment (FPI). The goal is to stabilize the Naira and create breathing space for the fiscal team to address underlying economic dysfunctions.
President Bola Tinubu’s plan to reduce interest rates in the country may clash with the existing tightening monetary policy of the Central Bank of Nigeria (CBN).
The Minister of Finance, Wale Edun, says the federal budget cannot be sustained by the Ways and Means advances from the Central Bank of Nigeria.
Apart from reining in inflation, the development is expected to increase the cost of credit
Although the Naira's freefall observed last year appears to have come to an end, a glance at the previous era suggests that we should be concerned.