Categories: BusinessLatest

Nigeria’s Central Bank Approves Release of Excess Cash Reserve Requirement to Improve Banking Liquidity

The Central bank of Nigeria (CBN) has approved the release of cash reserve requirement through the issuance of CBN Special bills. The apex bank says this measure will improve liquidity in Nigeria’s banking sector and support economic recovery through increase extension of credit facility to the real sector.

 

The regulator further said it will accomplish this through the issuance of CBN bills with the following features: Tenor of 90 days, subject to rollover at the instance of the CBN, Zero coupon with an implied yield to be worked out by the CBN, the instrument will be tradeable and be discountable at the CBN window and the instrument will qualify as liquid assets.

 

The regulator concluded by saying it will continue to monitor banks utilisation of the liquidity injection from the CRR release to ensure optimal use for transactions that support economic recovery and growth.

Follow us on:

AriseNews

Recent Posts

Matt Gaetz To Exit Congress Following Withdrawal As DOJ Nominee Amid Controversy

Matt Gaetz has said he will not return to Congress after withdrawing as Trump’s DOJ…

3 hours ago

Tinubu Seeks Senate Approval For Oluyede As Chief Of Army Staff

President Tinubu has sought Senate confirmation of Olufemi Oluyede as Chief of Army Staff, citing…

3 hours ago

Netanyahu Risks Arrest in UK as ICC Issues Warrant Against Him For War Crimes

Israeli PM Netanyahu faces potential arrest in the UK as Downing Street pledges to fulfill…

5 hours ago

Second Australian Teen Dies from Suspected Methanol Poisoning in Laos

A second Australian teenager has died of suspected methanol poisoning in Laos, bringing to six…

5 hours ago

Simon Ekpa Arrested, Denies Being IPOB Leader + Atiku Says Tinubu’s Loans Are Bone-Crushing – Trending With Ojy Okpe

https://www.youtube.com/watch?v=mFlFl1mPGC8 The arrest of self-proclaimed Prime minister of the Biafra Republic, Simon Ekpa who was…

6 hours ago

Gatwick Airport South Terminal Evacuated, Bomb Disposal Team Deployed Suspicious Item Found In Luggage

Gatwick Airport's South Terminal was evacuated after a suspected prohibited item was found, prompting bomb…

6 hours ago