A Hard Shift From Easy Money: CBN And OMO Restriction
February 5, 2020
6:22 am
The ripple effect of the Central Bank of Nigeria’s (CBN) decision to completely prohibit individuals and local firms from investing in both its primary and secondary Open Market Operations (OMO) auctions has continued to reverberate in the financial market.
The policy, coupled with the banking sector regulator’s decision to review downward, bank charges, which became effective at the beginning of the year, are all targeted at shifting both banks and fixed income investors away from easy money.
Presently, treasury bills rates have dropped to single-digit, from about 13 per cent …
