L
LequteMan
Guest
The Central Bank of Nigeria (CBN) has reduced the money in circulation in Nigeria.
This action is to mitigate the current state of inflation in the country.
The apex bank used the Open Market Operations to withdraw N8.3 billion, while the short-dated treasury bill’s issuance attracted N177 billion.
Last week, the revenue shared among the three tiers of government could not boost the quantity of money in circulation, because the financial system regulators had sold debt instruments to mop up the cash.
Besides, the week also coincided with the period of Cash Reserve Ratio deductions.
Meanwhile, the attractive interest rate’s offer for investors and government guarantee have become the allure for huge investor-turnout, which are mostly patronised by banks.
This action is to mitigate the current state of inflation in the country.
The apex bank used the Open Market Operations to withdraw N8.3 billion, while the short-dated treasury bill’s issuance attracted N177 billion.
Last week, the revenue shared among the three tiers of government could not boost the quantity of money in circulation, because the financial system regulators had sold debt instruments to mop up the cash.
Besides, the week also coincided with the period of Cash Reserve Ratio deductions.
Meanwhile, the attractive interest rate’s offer for investors and government guarantee have become the allure for huge investor-turnout, which are mostly patronised by banks.
