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CBN set to reform its liquidity management process

CBN says banks don't need approval for mobile money wallets, demands 60% loan to deposit ratio for real sector

The Central Bank of Nigeria, CBN, is set to device a new means of liquidity management in order to reduce associated expenses.

The Deputy Governor in charge of Corporate Services at the CBN, Mr. Edward Adamu, stated this on Wednesday when he presented the 2019 budget proposal of the apex bank on behalf of the bank’s Governor, Godwin Emefiele to the House of Representatives Committee on Banking and Currency.

Adamu, who gave a summary of all the vote heads and commitments of the bank for 2019, explained that the bank remained committed to sustaining stability in the financial system, in addition to pushing policies that would continue to engender growth in the Nigerian economy.

Read also: IMF backs Nigeria on VAT, tax increase

The Chairman of the committee, Jones Onyereri, acknowledged the efforts of the CBN at managing liquidity, urging the apex bank to do more by further enlightening members on the dynamics of liquidity management.

Timothy Enietan-Matthews

Timothy is a versatile journalist, down to earth with a critical and curious mind.

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Timothy Enietan-Matthews

Timothy is a versatile journalist, down to earth with a critical and curious mind.

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