Nigerian banks to recapitalise and 7 other takeaways from CBN 5-year street map

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Monday, June 25,2019

The Central Bank of Nigeria (CBN) has printed its Monetary Policy roadmap for 2019-2024 for the country.

Godwin Emefiele, CBN governor, introduced the five-year roadmap on Monday, at the apex financial institution headquarters in Abuja.

Emefiele additionally announced that Nigeria’s central bank will preserve its overseas trade system via floating of the naira.
Nigerian currency, Naira

Nigerian currency, Naira
Emefiele additionally announced that Nigeria’s central bank will preserve its overseas trade system via floating of the naira.
Nigerian currency, Naira

Here are some of the takeaways from the financial blueprint of the CBN:

Pursue an financial agenda that would make the economy develop by double digits through targeted programmes that would boost output.
CBN will work with Deposit Money Banks in the next 5 years to boost savings to the actual zone as properly as the creative and training sector
Increase its assist to farmers in order to bring down the fee of inflation
Launch a new Trade Monitoring System to limit documentation for exports to one day from one week, effective October 2019.
Get banks to focal point greater credit on schooling and youths in the creative sector, leverage statistics to gain single-digit inflation
Lending Framework for auto sellers, shops, leasing companies, and many others on purchaser credit at “reasonable rates” and disclosure of repayments, interest, etc.
Emefiele says the CBN will work with applicable agencies and market establishments to set up Mortgage-Backed Securities (MBS) for trading on Capital Market beneath new association of mortgage lending.

 

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Joseph Afam (Local Contents and Partnership Editor) (070 3949 0464) Joseph Afam is a energy and finance journalist, who has years of experience in journalism, he started his journalism career in Nigeria’s top financial newspaper in Lagos. He’s a graduate of Economics and Finance from University of Ebonyi State, Nigeria He has won series of awards and regconitions Contact him for any editorial deals and advertorial issues on # Joseph.Afam@naija247news.com, editor@naija247news.com, Cell: 070 3949 0464

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