Banks, Others’ Borrowings from CBN Fell by 66% to N1.4trn in Four Months Analysts attribute decline to high volume of currency in circulation Nume Ekeghe Deposit money banks (DMBs and merchant banks borrowing from the Central Bank of Nigeria’s (CBN) Standing Lending Facility
(SLF) dropped year-on-year (YoY) by 66 per cent to N1.49 trillion in first four months of 2022, from N4.44 trillion in the comparable period of 2021. Financial institutions in Nigeria
through the SLF borrow funds from the apex bank to meet their financial intermediation role. The apex bank lends money to banks and merchant banks through the SLF at an interest rate
of 100 basis points (bpts) above the Monetary Policy Rate (MPR) of 11.50 per cent. The trend between January and April 2022, as gathered from the CBN website revealed steady
decline in bank and merchant banks’ borrowings, driven by improvement in the level of liquidity in the interbank system. However, analysts have said the development was due to low rates
on savings instruments, matured T-bills and bonds have not rolled over, resulting to more currency in circulation. An analysis of the CBN financial Continued on page 11
PDP Moves NEC to Monday over Zoning of Presidential Ticket…Page 15 Tuesday 3 May, 2022 Vol 27. No 9884. Price: N250
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Adamu to Adeboye: There Are No Signs 2023 Elections Won't Hold... Page 10
Buhari: Rescuing Kidnapped Train Passengers Delicate, Requires Wisdom Assures families victims will safely return Says terrorists using captives as human shields, making their rescue difficult Deji Elumoye and Udora Orizu in Abuja President Muhammadu Buhari, yesterday, said rescuing the kidnapped
passengers of the Kaduna-bound train that was recently attacked by terrorists was a delicate situation, which required wisdom, utmost caution, and proper handling.
Buhari, however, assured the families of the victims that efforts were on-going to ensure the safe return of all those held captive by the terrorists.
The president claimed that the rescue had been made difficult because the terrorists were holding the captives close to places that could be targeted by security opera-
tives in the event of a strong rescue operation, to deter such attack. He directed security agencies and the Nigerian Railway Corporation (NRC) to provide more regular
and detailed information to the victims’ families on their condition and efforts to save them. Continued on page 11
Bury Zoning and Bury Nigeria, South/Middle Belt Leaders Warn Declare another eight years of northern presidency unacceptable Iyobosa Uwugiaren and Chuks Okocha in Abuja The Southern and Middle Belt Leaders Forum (SMBLF) has issued a stern warning to those trying to do away with the zoning of the presidency in the country, saying any attempt to end zoning, as being insinuated in some northern quarters, would spell the end for Nigeria. The leaders condemned a statement credited to the chairman of the Northern Elders Forum (NEF), Alhaji Ango Abdullahi, that rotation of the presidency between the north and south was “dead and buried”. They declared that another eight Continued on page 11
IS HE THE ONE?... L-R: Vice President Yemi Osinbajo; President Muhammadu Buhari; and the CBN Governor, Godwin Emefiele, in convivial mood during the Sallah Homage to the Presidential Villa, Abuja...yesterday .
PHOTO: GODWIN OMOIGUI