STABbing and Printing: The CBN's Mafia Monetary Policies

The CBN resurrects a monetary policy tool last seen in the '90s

Imagine receiving an email from your bank informing you that it has, with immediate effect, borrowed money from your bank account for 6 months at an interest rate lower than the amount obtainable for 6-month Treasury Bills. That’s right - no permission sought or questions asked; they simply went in and helped themselves to your money. While you’re still…

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