fridOlY. Februllf)" 11,2012
50. TH IS DAY, Vol. 17. No. 6143
Mo~EYGUIDE ---~------~~----~~-----------------CBN Disburses N151bn for Agriculture
he Cenn~l Bank of NlgenR (CBN) yestmiIIy Slid llat A lotal of
mrlhon only. II Cll'ialncd' "Dunng the period Otltl swe goytnllllClal accessed CACS fund. The
NISLOl5 hillion had ICCfl di5burMd to 190 benefi:lanes undeT the U!IIuneroai
By Obiw m Chima N48.984 billion in the month
<\gricultund Cralil Scheme \CACS) as 11 Dco!mbcf lOll The ~ ban. lTlade thI5 • IOWn In I repon utlcd. , \cbV\lJeS of lbe "'GOO billion ACS f(>l' the month of ! leatnbc:. 201I.~ ~ on lis \'CbsItc. be balarce ofCACS Unds r II 00\' stand was
Acconling 10 the banlang sector regulator. the bencllciIlflCII ~ made up of 163 povate pmmotcn: Ind 21 state governments, which il said ICCCSICd N I billion each. Bul the federal capItal tcmlOl)' was IIJd to haYe ac:ccsscd N 16
number of State Governments participoling In lhe Scheme therefOR stmds III 27. ll1C5IC SUile govmunc:nts IICCC:SSCd funds f« on-Icnding 10 f.armen' UIlKln5t co-opcntives and linaocmg of other IUt3S of agncultural mtcrva\llons In Ihcu"
"""'"' S _
"Pm.reas morutoing c:xcrClSe in the StIle! . ;ere conduct-
Customer Service: First Bank Bags BSI Certification """"". I I
With !he BSI Standaros. The BS!. I netllnl body. rnJi5IJlg ba"e met all tbr; requIrements. certificd the
mOD ( f lhe t.nk 'J
lomer SCfYK:C. First Bank of NlgerUr PI; has bem lwarded the ' BS2 S999' CCftl'ita lion by tlte Brilu;h itlndard lnstltut .. If! (BSI) Wilh lhe deve lopment. lhe )ank bcaime tiM! first finan:iol illStliullOll III Ihe countly
he lwant at 11 evenl tn the b;:!n~ had conItantJy toughl k. strengtbm ts nsk maNlF'lC.'l1 frame.. \YOrk 10 IS to mc.;-Ilhe CCf1ifi-
lelizhled, imk'cJ, that xyond altaining these CCf1i-
"""" The ExecuII\'e Dumor. Global InfoSwift • Mr.
EdlIn noted Ihat the bank had been able to pul together I 5ys1cm that ensured mlertllo!tonal !lbndards Gencr.1 MHlllllge.-, Tnllnmg. Middle Easl and
....'as also first commercill
ficnlJOns lIS I bank. In our IhIe way. "4'C have be:!n able 10 ,,;ng gkxy 10 N email@example.com wim he!ie lanWnaric .,-rue\'CI1lCI1t5 .... ill definitely IrlCl'CaSC the .:onfidencc of 1M th our cus, orners Ind inW','\,(r1 in the
bank 10 bag lhe enhanced 'IS02700I ' certificalJon f« mformallOfl !iCCurity standard and comphanL Accordmg 10 Oke, Ihe bank was able 10 record the
BSI, Mr. Shlhln
Barflom, SIlut; YWe do CCf1ify OrgWlISIItlOfb. II!(IIIlSI um:mll· Ilonll and BnllSh standards and most of Ills man~gemen! I)'5lcm standanls have been rated by BSI lie commended the bank (n'e.- Its efTOI1.!i 10 meet IIIlernotional sUndards.
According to the regulator. from tneepUon. 16 banks. nomcly: ACCC5S Bank Pic, Fidelity Bank, FII'SI Bank of NIgeria, GTBank. Oceanic ""'" Skye Bonk, """'"" IBTC.1'1<, Union Bank orNigcna. Umlcd Bank for Afiica, Unity Bank Pic, Zenith Bank Pk.
Otamond Bank Pic. Sterling. Cilibunk, Wema Hnd MlI.mslmIm Bank partlClpItted tmder die Scheme.. The apex t.nk: added: "The analY!is of nwnm of prDJCd5 financed under CACS by \-lIluc cham shawed thai oot of the 163 CACS private sector
bonllOCOUhlt!d for 44 per cent
and domtnated the activitiel funded ,.,.htle pr~mg IOCOUnted for 41 1 per ccnL These IICI1 ~'Ities were diSlllntly followed by markeling and
stonge. which reglSlemf 8 per ceutand 6.75 percenl ~ u\'Cly "With regards 10 the va!ue of funds rebscd. proccssmg IICCOUIIICd for 556 per ceoI. followed by proob;tlOfl whda IICCOtIr\ted for 29.1 per CCtI of lhe VJllue of enlcrpnses rUlllOCCd. These were follov.'Cd by maritellng and Slcngt: which regislefed 10.4 percent
,••14.9", """-l11C CACS was csrnb!Jshc.l by lhe CBN III collsboralioo with Ihe Federal Ministry of Agncultln. The N200 billIOn was ralSOd through the ISSlWlCC or FGN Bond by the
Office tranchCII. tht5 scheme are al smgle digit
reyealed reuntly that agneul. lure lendm, Increased by N212.64 billlOfl u II October last )"CIIf. repn:senting a 37.6 pcrocnl iocml5C oYer the 20 I 0 figure. The commlllcc had abo IJIdicalcd that \ending 10 the sector rose by 2..78 pcrt:enl of I()(al IP1* lending in the banktng 5CCIOr by Odobcr last
inlt"rat mit: subjed 10 a maximum of9 per CClL The CBN has In the past few ycaB, contmucd 10 ~ policies Ilw would slmwiale agricullW'C sector funding. so lIS to help diVCflllfy the country's rev·
,..,....... ,... """"""""" pc:nod
of lhe previous
The banken' committee
DMO to Auction N70bn 2019, 2022 Bonds he Debl Managemenl
Office (DMO) )'CSlaliay said il would issue N70 billion ($442 millioo) m soyerelgn bonds nwunng IJI 2019 Inti 2022 on February 29. II its second monthly debt
By Obinna Chinm
luctlOn thIS year
Wa:lncsdly. USlnl lhe Dulch
Reuten said tI-e debt office wouldscll N3S billion oreach bond The auehon would be re-opcmns of previOUS Issues With the aOOIOlI result expected 10 be releaKd the fol1owmgdlly -The OMD reserves lhe
"All money maricCl dealers should submit btds Ihrough the CBN 'TEMENOS' lI1tcJ · net bIInkmg bctwttn 9 11m and II am. Wednesday FebnJ~
nghllo .11ef the amo mt allot· ted In rcspomc to market c0n-
ditlOnS,· the DMO said III a public ooiNX. In a related development. the Ccntnl BalIk of Nigeria (CBN) ycsu:rday saId il would auction un.sury bllill wonh N149.6S bIllI on (5944.88 million) .t ilS bimonthly deb! auclion nexl week. TIIC ~ blink Intends to 5C1I 1'14965 bilhon in 914y paper and NSO b!1l1Ofl each in 18Z-day lreasury bills .nd J64-day bills nexl
22. Each bId must be IJI multJ.. pies of I'll I. 000 subJCCI to a mll1lmUm o f NIO. 000 AuthonSC'd JIl(OrlCy markel dcalCf5 m allowed 10 SUbmll mulliple btds "A uK! may be for IUthorued money m:trkd dealers own KCOUnI, non·money market dealer or Interested members o f the publIC- Atlouncnl letters would be issued on ThW'Sday February 23, 2012. .... hlle pIIymcnl fOl" Ihe sueCCS5flll bub!lhould be mode: to our accouni The bank
rcseJYCS the righllO reJttI any
btd... the CON said in a notice pubhshed
OChle'iflTlCnlS due to us com-
.CO:::"~I~ BlInk ~ abo ;taled thai !be fU13Il1;:lI.! m5tllJllOn a1wa)'S considctcd dlI! )f1)Icction of its infonnalion
lIe saKL "We haye been working hand-in-baoo WIth Ihe bank. m tbe 1IISIIwO years
adequately protecled II all
IIgcmenll)'5ltrn. pointing oul Ihlll Fi~ Bank had made hi$tOf)' achicymg the feat lie reclllled that thc bank
his JHlrt, Managmg DIrector, Global InfOS .... iR. M r. Solomon Edun. staled
lhat Ihe award was issued 10 $uanllltee confidenlialily. Integnly' and r:bllc S('ClInty Iyailabllity 0 dala of cus-
,. folab! Oke. said the: awant was meant for OJpnlSlb005 for busmcss continUity man·
adopt mcasum Ihal would CllSUfC tMI Its syslenlll were
he IKkIed, made the bank 10
o hlg such awanl Group Ml103glOg Dnttlor IOd Chief EU'ClI!iy;: OffiCCl", ,;Im Bank, Mr. Bisi masanYIi. '" hik recc:ivinz
requirement!! OnasIInya soitl:
Tec:hnology, ~o~ and bUSll1CSS ODlltlllUlty amallo lIS long-t~ prtJS(IeCts. TIlls.
cd dunng the)'C8l' Dunng the period tmdcr ~ , the sum ofN 14 bililOll WI:! released to Dille banks with rcs:pcct 10 14 CACS projects. bringing total releases by !he CBN since inception in 200910 N IS1.0 16
to ensure lhal they comply
N... " ,
1410 16.07 18.80
FEB 9 FEB 9 FEB 9
:11111 1 j: 1~~S R~
'-'''' I.. ,
' 246.06 205 .'2 170. 11
24 • . 85 206 4'
47 .64 1 207 . 14
Swiss ManesJapanese Yen filnish KrunC2"
I.' ". '2
I I I ~~, . 14.i3 .
16fO 90Dav -' p-
,.... ..... '''' I '" LAGOS
r cO " .~
. "'" ' ""Y'
MARKET , INDE
.. I•• I"" '"'I"""
. ,.",w ' '
15." 16. 12
Las l \ \ffk
N6.579tn-rI-;:. N6-;:: . 4_ =1-';-;:;;01.2'%
........... PolIcy Rale
CBN Disburses N151bn for Agriculture