₦airaland Forum

Nike Popoola

The Central Bank of Nigeria has given a directive to
banks and other financial institutions to stop the sale
of treasury bills to individuals and small firms with
effect from November 29 .
Some bank officials who disclosed this to The PUNCH
said only big corporate organisations would be allowed
to do treasury bills investments.

Our correspondents learnt that banks were already
notifying their customers of the new directive .
The sources , however , said the existing treasury bills
investments would be allowed to continue till the end
of their maturity dates.

A bank official said , “ Operators are trying to see if the
November 29 deadline given for the implementation
by the CBN could be extended, so as to create enough
awareness. But there is no move for the reversal of the
directive . ”

An operator said the inaccessibility of treasury bills
might lead to an increase in savings deposits of the
banks , attracting interest rates below what the treasury
bills offered .

A source from the CBN said the move was to stop the
mop - up of funds from the system through the treasury
bills .

He said , “ Many people with huge cash prefer to keep
their funds idle in treasury bills instead of investing
the funds . Some people collect huge severance package ,
have huge funds but they have refused to invest the
money .

“ We want these funds to be useful in the economy so
that they will be available in the banks and can be
invested to create more jobs in the country. ”

He noted that the CBN had increased the Loan to Deposit Ratio of the banks from 60 per cent to 65 per cent .

source punch
https://punchng.com/cbn-stops-treasury-bills-sale-to-individuals/

Imagine dis stupid ppl... How is it ur business wat a person wants to do with his money? Na by force to invest? Someone wants to loan his money to govt as a form of investment and U see dat as a problem??

this is really bad

eTECTIV:
Imagine dis stupid ppl... How is it ur business wat a person wants to do with his money? Na by force to invest? Someone wants to loan his money to govt as a form of investment and U see dat as a problem??

The government you want to loan the money to say they don't want it anymore. You're busy asking if it is their problem.

Treasury bills are the safest way to invest, you can collect your gratuity of 100 million invest, and go and sleep, no stress

eTECTIV:
Imagine dis stupid ppl... How is it ur business wat a person wants to do with his money? Na by force to invest? Someone wants to loan his money to govt as a form of investment and U see dat as a problem??

Na by force to borrow money again? Go and put your money into productive use in the real sector economy or leave it idle in the bank (make inflation and bank manager see food chop).