Nigeria limits state bond holdings; cleans up microfinance

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The Central Bank of Nigeria on Friday unveiled a limit on banks' state government bond holdings at 10% of the total issued.

The central bank is thought to be keen to ensure that a small number of lenders do not buy a disproportionately large amount state governments' issuances. State government bonds are perceived as riskier than federal government debt, and are typically issued with much higher coupon rates, reflecting the greater risk involved.

Three of the country's 36 states have this year r

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