Cbn new policy

You're referring to the Central Bank of Nigeria (CBN) new policy!

The CBN has introduced several new policies in recent times to stabilize the economy and promote financial inclusion. Here are some of the notable ones:

  1. Cashless Policy: The CBN introduced a cashless policy to reduce the use of cash transactions and promote electronic payments. The policy aims to reduce the amount of cash in circulation and increase the use of digital payments.
  2. Tertiary Institutions' Intervention Fund: The CBN introduced a N200 billion intervention fund to support the education sector. The fund is aimed at providing loans to students and tertiary institutions to improve access to education.
  3. Agricultural Credit Guarantee Scheme: The CBN introduced an agricultural credit guarantee scheme to support farmers and agricultural businesses. The scheme aims to provide loans to farmers and agricultural businesses to improve agricultural productivity and reduce poverty.
  4. Micro, Small and Medium Enterprises (MSMEs) Development Fund: The CBN introduced a N220 billion MSMEs development fund to support small businesses and entrepreneurs. The fund aims to provide loans and other forms of support to MSMEs to promote economic growth and job creation.
  5. Foreign Exchange Policy: The CBN introduced a new foreign exchange policy aimed at promoting the use of the naira and reducing the use of foreign currencies. The policy aims to improve the stability of the naira and promote economic growth.
  6. Digital Currency: The CBN is exploring the possibility of introducing a digital currency, known as the eNaira, to promote financial inclusion and improve the efficiency of financial transactions.
  7. Open Banking Policy: The CBN introduced an open banking policy aimed at promoting financial inclusion and improving the efficiency of financial transactions. The policy aims to allow banks to share customer data and provide access to financial services to underserved communities.

These are just a few examples of the new policies introduced by the CBN. The bank continues to review and update its policies to promote economic growth, financial inclusion, and stability in the Nigerian economy.