Implications of the Approved Securitization of Ways & Means

By Wale Thompson Last week, both chambers of Nigeria’s parliament approved President Muhammadu Buhari’s December request to convert longstanding overdraft facilities obtained from the Central Bank of Nigeria (CBN) – amounting to N23.7 trillion – into government bonds, the so-called “securitization.” This move draws a line on a longstanding issue that had raised concerns about […]

Naira Redesign Policy: Of Faulty Assumptions, Systemic Risks and Ways Out

By Adebayo Ahmed The current cash crunch is the dominant issue in Nigeria today. To go about their daily lives, many people all over the country are spending countless hours on never-ending queues trying to get some money, which they presumably own. With frustration building, as a result of the cash crunch as well as […]

Rationale and Implications of Securitising FGN’s N20 trillion Debt to CBN

By Wale Thompson Last week, the Federal Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed announced the receipt of presidential approvals to ‘securitize’ Ways and Means (W&M) loans totaling NGN20trillion which the Federal Government (FG) owes to the Central Bank of Nigeria (CBN). In economics, Ways & Means is the unrestrained central bank […]