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CBN, NSIA set to diversify economy with comodity exchange

CBN, and Nigeria Sovereign Investment Authority, NSIA plan to invest N50 billion into the comatose Commodity Exchange, NCX. ....

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Beyond CBN's restructuring of Nigeria Commodity Exchange

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Beyond CBN’s restructuring of Nigeria Commodity Exchange
Mustapha Temidayo
By Sola Oni
On Tuesday, January 26, 2021, the Governor of Central Bank of Nigeria (CBN) , Mr Godwin Emefiele addressed the first press conference in the year where he unfolded the decision of the Monetary Policy Committee (MPC) on the rates that will drive operations in the money market. Expectedly, all the key indicators were retained. Monetary Policy Rate ( MPR) stays at 11.5 percent, Liquidity Ratio, 30 percent, Cash Reserve Ratio (CRR) and Asymmetric Corridor were also retained at 27.5 percent and +100 and-700 basis points respectively. The rationale for retaining the monetary policy instruments rates is not a rocket science. It may be a costly gamble for the apex bank to adjust any of the rates while the economy is trapped in stagflation. The bank has chosen a path of honour through gradual synchronization of monetary and fiscal policies to rescue t ....

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BEYOND CBN'S RESTRUCTURING OF NIGERIA COMMODITY EXCHANGE

Selective capital injection does not guarantee the turn-around of commodity exchanges, argues Sola Oni
On Tuesday, January 26, 2021, the Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele addressed the first press conference in the year where he unfolded the decision of the Monetary Policy Committee (MPC) on the rates that will drive operations in the money market. Expectedly, all the key indicators were retained. Monetary Policy Rate (MPR) stays at 11.5 percent, Liquidity Ratio, 30 percent, Cash Reserve Ratio (CRR) and Asymmetric Corridor were also retained at 27.5 percent and +100 and-700 basis points respectively. The rationale for retaining the monetary policy instruments rates is not a rocket science. It may be a costly gamble for the apex bank to adjust any of the rates while the economy is trapped in stagflation. The bank has chosen a path of honour through gradual synchronization of monetary and fiscal policies to rescue the economy from the pang of recessio ....

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