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Friday, 16 June 2017

CBN to clean up N200bn with exceptional TBs as Naira stable at N364/$

The Central Bank of Nigeria (CBN) yesterday said that it will issue unique treasury charges today to clean up N200 billion from the keeping money framework to further get control over swelling. In the mean time the naira stayed stable at N364 per dollar in the parallel market. liquidity Acting Director, Corporate Communication Department, Mr. Isaac Okoroafor revealed this yesterday. He stated: "The CBN arrangements to clean up an aggregate of N200.322 billion from the Nigerian keeping money framework through an exceptional Open Market Operation (OMO) at the rate of 16 for each penny for every annum. The choice to wipe up liquidity was in response to the development of N206 billion on Thursday, June 15, 2017." He additionally clarified that the zenith Bank settled on the rate of 16% for each annum because of the falling rate of swelling, which he noted will keep on falling. It will be reviewed that the Bank on Monday, June 12, 2017 discharged its Treasury Bills Issue Program for the second from last quarter of 2017 in which it revealed that the development dates for the different tenors will be June 15, June 22, July 6, July 20, August 3, August 17 and August 31, 2017, individually.

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