Banks Borrow N1.2trn From CBN in One Day Amid Liquidity Pressure
Owing to liquidity challenge, Nigerian Deposit Money Banks (DMBs) have made the largest single withdrawal of N1.2 trillion from the Central Bank’s (CBN) Standing Lending Facility (SLF) to fund operations due to a liquidity shortfall in the...
The Central Bank of Nigeria (CBN) has authorized the sale of dollars to Bureau de Change (BDC) operators at a rate of N1,580 per dollar in a bid to improve liquidity in the foreign exchange market.
The Central Bank of Nigeria (CBN) has just revealed its plan to issue N2.20 trillion in treasury bills during the fourth quarter (Q4) of 2024, matching the amount set to mature from September to November this year.
The tightening of the Central Bank of Nigeria’s (CBN) monetary policy has lead to a lack of liquidity in the banking system. As a result, in just three weeks in June 2024, several Nigerian banks and merchant banks have borrowed an estimated N3.76 trillion from the CBN to cover their daily obligations.
FX Liquidity Conditions To Remain Tight Amid $33bn Reserve Level
Despite Nigeria’s FX reserves starting the year on a positive note, economic analysts have said they expect FX liquidity conditions to remain tight pending receipt of expected FX inflows.
According to data obtained from the Central...
Liquidity Mop Up Imminent As N567bn Hits Interbank Market
The Central Bank of Nigeria (CBN) is expected to resume its liquidity mop up this week in response to inflow of N567 billion into the interbank money market.
Last week the apex bank suspended its liquidity mop...
