August 14, 2023/FBNQuest Research According to CBN data, Nigeria’s gross official reserves fell more slowly by -USD167m m/m to around USD34.0bn at the end of July 2023, compared to a fall of -USD975m in June 2023. The drop in the official reserves in July is consistent with the steady attrition […]
OPINION/EDITORIAL
Bearish Sentiment Resurfaces: CBN Resumes Open Market Operation (OMO)
August 14, 2023/Afrinvest Research The Nigerian Treasury Bills (“NT-Bills”) secondary market started the previous week on a quiet note as investors anticipated the result of the Primary Market Auction (’’PMA’’) that was held on Wednesday (9 -Aug-23). Mild selloffs were witnessed on selected papers after the NT-bills auction. Consequently, average […]
Impact of the CBN’s Plan to Re-enforce LDR on Tier 1 Banks
August 14, 2023/Cordros Report The Central Bank of Nigeria (CBN) communicated through individual circulars to Deposits Money Banks (DMBs) on 24 July 2023, reaffirming its commitment to not only retain the minimum Loan to Deposit Ratio (LDR) at 65.0% but also resume its enforcement of this directive effective 31 July […]
