By Emma Ujah, Abuja Bureau Chief
The Central Bank of Nigeria, CBN, yesterday, said it would soon announce measures to limit the excessive appetite of banks for government securities.
NIBSS, banks, to implement real time reversals by PoS by April(Opens in a new browser tab)
Meanwhile, the Monetary Policy Committee, MPC, of the apex bank concluded its bi-monthly meeting, yesterday, with a decision to retain the Monetary Policy Rate, MPR, at 13.5 percent. The committee also retained the Cash Reserve Ratio at 22.5 per cent and the Liquidity Ratio at 30 percent.
The governor of CBN, Mr. Godwin Emefiele, announced this at a press briefing on the decisions of the MPC meeting in Abuja, yesterday.
According to him, the step became necessary to curtail banks’ focus on investing in government debt instruments, while neglecting their role of lending to the private sector, in order to bring about the much-needed growth in the…