Saturday, October 23, 2021

    Nigerian banks have enough liquidity to woo foreign investors after JP Morgan's delist – CBN

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    Babatunde Akinsola
    Babatunde Akinsola is aNaija247news' Southwest editor. He's based in Lagos and writes on the Yoruba Nation political issues, news and investigative reports

    Nigeria’s central bank believes there is sufficient liquidity in the country’s banking system although it is concerned that Africa’s biggest economy is slowing, its monetary policy director said on Wednesday.

    Moses Tule said the bank’s decision earlier this month to cut the cash reserve ratio had injected 300 billion naira into the financial system.

    He said there was enough liquidity in the banking system to take up what foreign investors might sell after JP Morgan removed Nigeria from its influential bond index.


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