CBN to mop up N1.6trillion excess liquidity in February

The Central Bank of Nigeria said it is ready to mop up N1.6 trillion excess liquidity in the interbank money this February.This comes amidst rising business confidence over improved macroeconomic conditions during the month.

The Apex bank Business Expectation Survey in January shows increased growth in the economy, with overall Confidence Index for February rising to 62.1 percent from 25.9 percent for January.

Economic experts expect a total inflow of about N2.33 trillion to hit the money market from various maturing government securities and Federal Accounts Allocation Committee this month.

They also expect improved liquidity conditions and moderation in cost of funds.

Leave a Reply

%d bloggers like this: