News Formal

Hardship: CBN plans transfer of N5.5tn to Finance Ministry, DFIs

  • 📰 DailyPostNGR
  • ⏱ Reading Time:
  • 25 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 59%

CBN Nyheter

Finance Ministry

The Central Bank of Nigeria, CBN, will transfer N5.5 trillion for development activities to the Ministry of Finance, Development Finance Institutions (DFIs) amid its restructuring plan.

The Central Bank of Nigeria, CBN, will transfer N5.5 trillion for development activities to the Ministry of Finance, Development Finance Institutions amid its restructuring plan. According to a new report, this move aligns with the recommendations from the International Monetary Fund, IMF, on the need for the CBN to streamline its economic policies and focus on core central banking functions. 'The CBN's decision to phase out its development finance activities is welcome.

'An orderly portfolio transfer is key to avoiding interruption of credit flows to agriculture and small and medium enterprises. Undercapitalized financial institutions should not be eligible to absorb CBN's portfolio', the report read. Under the new strategy, the CBN will gradually phase out its direct involvement in development financing, which historically included lending concessional terms to sectors like agriculture and small and medium-sized enterprises .

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 11. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Tinubu’s government has not borrowed from CBN — Finance MinisterThe Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said the Tinubu-led Federal Government has not borrowed money from the Central Bank of Nigeria, CBN.
Källa: DailyPostNGR - 🏆 11. / 59 Läs mer »

El-Rufai probe: Kaduna Assembly seeks vital documents from Finance Ministry, MDAsThe Nation Newspaper El-Rufai probe: Kaduna Assembly seeks vital documents from Finance Ministry, MDAs
Källa: TheNationNews - 🏆 6. / 69 Läs mer »

Kaduna assembly asks finance ministry to provide details of loans obtained by el-RufaiThe Kaduna house of assembly has asked the state ministry of finance to provide details of the loans obtained by Nasir el-Rufai.
Källa: thecableng - 🏆 2. / 80 Läs mer »

El-Rufai probe: Kaduna Assembly writes Finance Ministry, MDAsThe Nation Newspaper El-Rufai probe: Kaduna Assembly writes Finance Ministry, MDAs
Källa: TheNationNews - 🏆 6. / 69 Läs mer »