Following the decision of the Monetary Policy Committee to increase the cash reserve requirement, financial analysts have said that borrowing cost will shoot up by a maximum of five per cent. The Managing Director, Financial Derivatives Company Limited, Mr. Bismark Rewane, said in a report made available to our correspondent […]
Tag: Monetary Policy Committee
Inter-bank rates fall on budget inflows
Inter-bank lending rate fell to an average 14.08 per cent on Friday and has now fallen lower than 300 basis points since Wednesday as liquidity increased, reversing a jump after the Central Bank of Nigeria announced on Tuesday it was raising banks’ cash reserve requirement. The CBN raised the reserve […]
Nigeria’s Central Bank reduces NOP limit to 1%
By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-Nigeria’s Central Bank Tuesday reduced its Foreign Exchange Net Open Position (NOP) limit to Banks to one percent (1%) down from 3%. This was contained in a Circular with reference number TED/FEM/FPC/GEN/01/018 and dated July 24 2012 signed by Batari Musa, Director Trade & Exchange […]
