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Funding trends, News 0 Comment

CBN leaves interest rate at 14%, Emefiele gives reasons

The CBN has retained the rate it lends to commercial banks at 14 per cent since 2016 – According to the CBN governor, the Monetary Policy Committee resolved to retain the cash reserve ratio (CRR) at 22.5 per cent and liquidity ratio at 30 per cent – Emefiele said Nigeria’s foreign reserve has grown from $42.54 billion as at December 2018 to $43.28 billion as at January 21 The Central Bank of Nigeria has left its lending rate for banks…

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Business plans, Economics, Funding trends 0 Comment

CBN to Establish Collateral Management Regime to Regulate Fintech

In order to encourage innovation in the payment system, the Central Bank of Nigeria (CBN) is putting in place a Collateral Management Regime (CMR) to regulate the activities of Fintech firms and startups in the country. The Director, Payments System Management Department (PSMD), Sam Okojere, who represented the CBN Governor, Godwin Emefiele, disclosed in his keynote address at the inaugural Lagos Fintech Week in Lagos, that, “the CMR is being developed in line with on-going efforts to evolve a robust collateral…