Market reforms are about boosting policy transmission, says CBN
Changes brought in by Nigerian central bank enable individual investors to participate in OMOs
The Nigerian central bank’s recent reforms to open market operations (OMOs) and discount window restrictions are aimed at enhancing monetary policy transmission, its acting director of financial markets has said.
Okey Umeano tells Central Banking that transmission in the west African state is “effective, but we want it to be more effective than it already is”. This, he says, “is the reason for all these reforms”.
The Central Bank of Nigeria (CBN) announced the reforms via a circular on August 12
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