Nigeria: CBN Takes Direct Control of Fixed Income Market

The Central Bank of Nigeria (CBN) has announced a phased operational overhaul of the Nigerian Fixed Income Market in a deliberate move to deepen transparency and efficiency in the financial ecosystem.

Acting Director of the Financial Markets Department at the CBN, Okey Umeano, in a memo, stated that the first phase of the reform will see the apex bank take full control of both the settlement process and trading platform for fixed income transactions starting from November this year.The initiative,…