Fixed Income: CBN reveals fresh regulations to control Nigerian market

The Central Bank of Nigeria has issued broad measures to seize control of the Nigerian fixed income market.

The measures, which are slated to go into effect in November, are intended to increase openness in Nigeria’s banking industry.
This was announced by the apex bank in a recent statement.

CBN stated that the intervention is an important component of larger financial industry reforms.

Accordingly, it said its core objective is to enhance regulatory oversight and strengthen the market’s ability to effectively support the transmission of monetary policy and, ultimately, foster economic growth.

“This transition will enable the CBN to assume direct responsibility for the management of the trading platform and handle end-to-end settlement activities under the bank’s established settlement system for financial market transactions,” the statement read.