Deposit Money Banks borrowed the sum of N21.87tn from the Central Bank of Nigeria via the Standing Lending Facility window and Repurchase Lending platform in 2020, according to the CBN financial data.
It also stated that “In particular, Skye Bank’s liquidity and non-performing loan ratios have been below and above the required thresholds, respectively, for quite a while.”Reacting to the CBN data, economist and Chief Executive Officer, Cowry Asset Management Limited, Johnson Chukwu, said there were increases in bank borrowing from the CBN in 2021 and 2022 due to higher levels of business activities.
The CBN Act of 2007, a copy of which was obtained by our correspondent, made it a crime for anyone to reject, deface, or counterfeit the naira notes. “ A coin or note shall be deemed to have been tampered with if the coin or note has been impaired, diminished or lightened otherwise than by fair wear and tear or has been defaced by stumping, engraving, mutilating, piercing, stapling, writing, tearing, soiling, squeezing or any other form of deliberate and willful abuse whether the coin or note has or has not been thereby diminished or lightened.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MATTERS ARISING: Despite growing concerns, Nigeria's education allocation still below recommended benchmark | TheCableMATTERS ARISING: Despite growing concerns, Nigeria’s education allocation still below recommended benchmark | TheCable
Read more »
Who’s Targeting CBN, INEC Heads? – THISDAYLIVE
Read more »
Lawmakers, professionals lambast Buhari, Emefiele over CBN loansThe Federal Government’s attempt to securitise the Ways and Means Advances is a continued breach of the Central Bank Act of 2007, according to some lawmakers, lawyers and economists.
Read more »
EDITORIAL: New naira notes and CBN’s policy snafuPREMIUM TIMES believes that no one has worked harder to debase the Central Bank of Nigeria than its current governor.
Read more »
CBN Tightens Noose on Money Launderers, Terrorism Financiers – THISDAYLIVE
Read more »
N2.16 billion Debt: Polaris Bank reacts as court issues Garnishee orderReports said the court granted garnishee order directing the CBN to freeze the account of Polaris Bank
Read more »