Saturday, September 12, 2020 03:16 PM /by CBN/ Header
Image Credit:  


The Central Bank of Nigeria (CBN) in 2020/2021 will continue to conduct
monetary policy anchored on the Medium-Term Expenditure Framework (MTEF) of the
Federal Government, with the objective of achieving price and financial
stability. The rationale for the aforementioned is that monetary policy impacts
its ultimate goal with a lag.


In consonance with the MTEF, the CBN is able to anchor expectations,
deliver time consistent policies and react to temporary shocks including those
associated with frequent changes in fiscal policy. The 2020/2021 Monetary,
Credit, Foreign Trade and Exchange Policy Guidelines reviews circulars issued
from the 2018/2019 edition till end December 2019 to cover the period January
2020 to December 2021.


This document outlines the monetary, credit, foreign trade and exchange
policy guidelines applicable to banks and other financial institutions
supervised by the CBN in 2020/2021.


On account of new developments in the domestic and global economies in
the period, the guidelines may be fine-tuned by the CBN without prior notice.
Such amendments shall be communicated to the relevant institutions/stakeholders
in supplementary circulars.


This document is organized in Five Sections. Section
One is the introduction. In Section Two, developments in the global and
domestic economies in 2019 are reviewed to provide a background to the policy
measures in 2020/2021.


The monetary and credit measures are enumerated in
Section Three. In Section Four, the applicable foreign trade and exchange
policy measures are presented. Lastly, Section Five discusses consumer
protection issues. The annexures to the guidelines contains prudential
guidelines, relevant reporting formats and referenced circulars.


Download Full PDF Report Here

 Proshare Nigeria Pvt. Ltd.

Related News

  1. Interest on
    Local Currency Savings Deposits Subject to a Minimum of 10% per annum of
  2. CBN Issues
    Revised Guidelines for the Licensing and Regulation of Payment Service
    Banks in Nigeria
  3. Manufacturing
    PMI Stands at 48.5% in August 2020 from 44.9% in July 2020
  4. CBN Directs
    Dealers to Desist from Opening Forms M Whose Payment Are Routed Through a
    Buying Agent
  5. CBN
    Releases Healthcare Research and Development Grant Guidelines
  6. Manufacturing
    PMI Stands at 44.9% in July 2020 from 41.1% in June 2020
  7. CBN
    Provides Non-Interest Guidelines for Intervention Programmes
  8. Senate
    Passes Bill to Re-enact BOFIA
  9. SGF
    Inaugurates CBN Body of Experts for Health Sector R and D
  10. ISO20022:
    Swift Updates Timelines for Migration
Proshare Nigeria Pvt. Ltd.
Proshare Nigeria Pvt. Ltd.