Regulatory Alerts2018-05-31 | FMD/DIR/CIR/GEN/09/003Pledge of N1 Billion Worth of Government/CBN Securities for OTC Trade Settlement
The Central Bank of Nigeria is requiring all Deposit Money Banks to pledge N1 billion in government/CBN securities as collateral for OTC trade settlement to enhance efficiency and confidence in the financial markets. Non-compliance or failure to top-up the pledge will result in exclusion from the market. This directive takes effect on June 1, 2018.
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