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Nairaland Forum / Nairaland / General / Investment / CBN Stops Treasury Bills’ Sale To Individuals (1190 Views)
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CBN Stops Treasury Bills’ Sale To Individuals by ttshems(m): 8:15am On Nov 07, 2019 |
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/ |
Re: CBN Stops Treasury Bills’ Sale To Individuals by eTECTIV: 9:28am On Nov 07, 2019 |
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?? |
Re: CBN Stops Treasury Bills’ Sale To Individuals by ttshems(m): 5:13pm On Nov 07, 2019 |
this is really bad |
Re: CBN Stops Treasury Bills’ Sale To Individuals by Ohislee(m): 8:18pm On Nov 07, 2019 |
eTECTIV: 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. 2 Likes 1 Share |
Re: CBN Stops Treasury Bills’ Sale To Individuals by chigoziri2403(m): 8:42pm On Nov 07, 2019 |
Treasury bills are the safest way to invest, you can collect your gratuity of 100 million invest, and go and sleep, no stress |
Re: CBN Stops Treasury Bills’ Sale To Individuals by Acidosis(m): 1:07am On Nov 08, 2019 |
eTECTIV: 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). 1 Like 1 Share |
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