In a move aimed at enhancing liquidity in the financial system, the Central Bank of Nigeria (CBN) has introduced new provisions that remove certain restrictions on accessing the discount window.

The Central Bank of Nigeria (CBN) has announced the removal of restrictions related to foreign exchange (FX) and government securities for entities seeking to access the discount window. This change is effective immediately and applies to all banks, authorised dealers, and other market participants.

The CBN has instructed all relevant parties to adhere strictly to these new provisions, ensuring a smooth implementation process. By easing access to the discount window, the CBN aims to facilitate better liquidity management within the banking sector.

The removal of FX and government securities restrictions is seen as a significant step towards improving the overall efficiency of the financial system. It is expected to have a positive impact on the ability of banks and other financial institutions to manage their liquidity needs.

With these new provisions in place, the CBN is poised to enhance the stability and resilience of the Nigerian financial system.