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Nairaland Forum / Nairaland / General / Business / Cbn Makes N3.3 Billion From Banks’ Borrowing (4066 Views)
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Cbn Makes N3.3 Billion From Banks’ Borrowing by edunwablog: 5:51am On May 22, 2017 |
For frequent borrowing from the Central Bank of Nigeria (CBN) by commercial banks, the regulator recorded N3.29 billion as interest income in February 2017. Although some of the lenders kept their excess cash at CBN’s Standing Deposit Facility (SDF) within the period under review, others, including merchant banks continued to access the Standing Lending Facility (SLF). By the subsisting decision of the Monetary Policy Committee, applicable rates for SLF and SDF remained at 16 per cent and nine per cent, respectively.The huge patronage by banks was to make up their positions, either borrowing from the CBN or depositing excess reserves at the end of each business day, especially for some that were hit hard by persistent liquidity mop up, payment for dollar, treasury bills and bonds’ auctions. An analysis of the apex bank’s February Economic Report, showed that the there was more patronage of the SLF facility than the SDF window, an indication that the banks were cash-trapped. Total request for SLF, including Intraday Lending Facility (ILF) that were converted to Overnight instrument, made up of N696.31 billion direct SLF and N3.57 trillion ILF, amounted to N4.26 trillion, with a daily average of N224.57 billion. Therefore, CBN earned N3.29 billion in interest income, representing an increase when compared with SLF of N3.38 trillion and interest income of N2.7 billion in January 2017. Total SDF granted during the review period was N742.62 billion, with a daily average of N39.1 billion, compared with N1.85 trillion in January 2017. On the other hand, the interest payment to banks on SDF in February 2017 was N218.39 million, compared with N633.32 billion in January 2017. Similarly, the persistent liquidity mop up exercise by the apex bank resulted to increased lending rates among banks. During the period, at the interbank call segment, the weighted average rate, which stood at 8.15 per cent in the preceding month, rose significantly by 19.31 percentage points to 27.46 per cent. Also, the weighted average rate at the Open Buy Back (OBB) segment increased from 8.69 per cent in the preceding month to 23.60 per cent. Meanwhile, a total of N527.6 million was guaranteed to 3,324 farmers by CBN under its Agricultural Credit Guarantee Scheme (ACGS) in February 2017. This amount represented 12.6 and 14.3 per cent decline below the levels in the preceding month and the corresponding period of 2016, respectively. A sub-sectoral analysis showed that food crops got the largest share of N330.3 million (62.6 per cent) guaranteed to 2,309 beneficiaries. The mixed crops sub-sector received N25.7 million (4.9 per cent) guaranteed to 164 beneficiaries; livestock, N72 million (13.7 per cent) guaranteed to 314 beneficiaries; and cash crops, N52 million (9.9 per cent) guaranteed to 270 beneficiaries. The fisheries sub-sector had N24.5 million (4.6 per cent) guaranteed to 89 farmers, while others got N23.1 million (4.4 per cent) guaranteed to 178 beneficiaries. more at http://www.akelicious.com/2017/05/cbn-makes-n33-billion-from-banks.html?m=1 1 Like
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Re: Cbn Makes N3.3 Billion From Banks’ Borrowing by DaV8King(m): 6:58am On May 22, 2017 |
This is why Nigerian banks will never be big players in lending to the real sector And also why our economy will forever struggle. When even the Central Bank is busy chasing interest upandan!! 1 Like
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Re: Cbn Makes N3.3 Billion From Banks’ Borrowing by veekid(m): 7:38am On May 22, 2017 |
Awon ti Lai Muhammed
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Re: Cbn Makes N3.3 Billion From Banks’ Borrowing by Ariba2(m): 7:38am On May 22, 2017 |
Jesus..... |
Re: Cbn Makes N3.3 Billion From Banks’ Borrowing by dheespectre: 7:39am On May 22, 2017 |
h |
Re: Cbn Makes N3.3 Billion From Banks’ Borrowing by nwafresh(m): 7:39am On May 22, 2017 |
Ariba2:
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Re: Cbn Makes N3.3 Billion From Banks’ Borrowing by niceguy7(m): 7:40am On May 22, 2017 |
Am not understanding, are we suppose to clap for them? When our economy get k-leg.... 1 Like |
Re: Cbn Makes N3.3 Billion From Banks’ Borrowing by Nelsizzy(m): 7:40am On May 22, 2017 |
So CBN made 3.29 billion naira in just a month. And the govt is borrowing to finance budgets . How much does the CBN contribute to GDP sef? 3 Likes
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Re: Cbn Makes N3.3 Billion From Banks’ Borrowing by IsaacBuchi(m): 7:40am On May 22, 2017 |
The only thing Messi has lifted this year www.nairaland.com/attachments/5358808_messi_jpegd9de1ac454132317779b77d8de867899 6 Likes 1 Share |
Re: Cbn Makes N3.3 Billion From Banks’ Borrowing by Alisegun(m): 7:42am On May 22, 2017 |
1 Like
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Re: Cbn Makes N3.3 Billion From Banks’ Borrowing by fulaniHERDSman(m): 7:42am On May 22, 2017 |
Yet I pay my bills ... they don't. So i say, fvck CBN, fvck whoever defends them. You down with me on this, big ups! 1 Like |
Re: Cbn Makes N3.3 Billion From Banks’ Borrowing by Benjom(m): 7:43am On May 22, 2017 |
They tried and thank God it was declared. |
Re: Cbn Makes N3.3 Billion From Banks’ Borrowing by Nobody: 7:43am On May 22, 2017 |
IsaacBuchi:u no well at all 2 Likes |
Re: Cbn Makes N3.3 Billion From Banks’ Borrowing by dheespectre: 7:46am On May 22, 2017 |
g |
Re: Cbn Makes N3.3 Billion From Banks’ Borrowing by IsaacBuchi(m): 7:48am On May 22, 2017 |
FuckBuhari: I am not lying now www.nairaland.com/attachments/5344048_5056937screenshot20170323213940jpeg9a7bd7bd0f783db67f562967fe308942_jpeg487b692c5a400bde160c81653556e1d2 www.nairaland.com/attachments/5315077_download1_jpeg5555ffe7a073da9d3ac0d20fa9f8c880 3 Likes |
Re: Cbn Makes N3.3 Billion From Banks’ Borrowing by dallyemmy: 7:50am On May 22, 2017 |
CBN needs to invest into the economy 1 Like |
Re: Cbn Makes N3.3 Billion From Banks’ Borrowing by Nobody: 7:51am On May 22, 2017 |
DaV8King: You have confidently displayed your ignorance of how the financial services sector works. 1 Like |
Re: Cbn Makes N3.3 Billion From Banks’ Borrowing by ufumes(m): 7:54am On May 22, 2017 |
Whao! Thats a lot |
Re: Cbn Makes N3.3 Billion From Banks’ Borrowing by JohnieWalker12(m): 8:08am On May 22, 2017 |
Money no dey ever finish for CBN. Even after Dasuki do Christmas with our money |
Re: Cbn Makes N3.3 Billion From Banks’ Borrowing by benlash: 8:18am On May 22, 2017 |
New photos of Beyonce and JayZ at her African themed baby shower http://mainvibes.com/new-photos-beyonce-jayz-african-themed-baby-shower/ |
Re: Cbn Makes N3.3 Billion From Banks’ Borrowing by Wiseandtrue(f): 9:11am On May 22, 2017 |
How has this story help the masses Bank dey borrow poor people money Rubbish! 1 Like |
Re: Cbn Makes N3.3 Billion From Banks’ Borrowing by Nobody: 9:25am On May 22, 2017 |
this is the result of hoarding dollar |
Re: Cbn Makes N3.3 Billion From Banks’ Borrowing by IBBG(m): 11:56am On May 22, 2017 |
CBN colluding with commercial banks to rip off the masses since 18BC. |
Re: Cbn Makes N3.3 Billion From Banks’ Borrowing by donqx: 1:01pm On May 22, 2017 |
Ok |
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