CBN Speaks About ‘Robbery Attack’ On Apex Bank

The Central Bank of Nigeria (CBN) has debunked reports that its branch in Benin City, Edo State, was attacked by armed robbers.

Naijaparry understands that there were rumours that the CBN branch in Benin was attacked on Tuesday with the robbers shooting sporadically.

However, in a tweet on its handle, the apex bank urged the public to disregard the story, describing it as false.

“The general public should disregard the false story that robbers attacked CBN Benin branch on Tuesday 12/11/19,” the CBN said.

The general public should disregard the false story that robbers attacked CBN Benin branch on Tuesday 12/11/19

— Central Bank of Nigeria (@cenbank) November 12, 2019

Bank Issues Order

Meanwhile, the Central Bank of Nigeria (CBN) has directed banks and other financial institutions to stop the sale of treasury bills to individuals and small firms with effect from November 29.

Naijaparry understands that the apex bank directed only big corporate organisations to do treasury bills investments. It also learned that banks were already notifying their customers of the new directive.

Reports said the existing treasury bills investments would be allowed to continue till the end of their maturity dates.

An operator said the inaccessibility of treasury bills might lead to an increase in savings deposits of the banks, attracting interest rates below what the treasury bills offered.

A source from the CBN said the move was to stop the mop-up of funds from the system through the treasury bills.

He noted that the CBN had increased the Loan to Deposit Ratio of the banks from 60 percent to 65 percent.