Review of developments in the financial sector in the first and second quarters of 2017

Abstract

International economic developments pg.1; Domestic economy and financial developments pg.2; Capital market pg.6; Exchange rate pg.6, Foreign reserve management pg.7; CBN circulars pg.8.

Description
The financial sector recorded remarkable developments in the first half of 2017. Most of these were partly due to policies made by the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) and broad-based initiatives of Federal Government to engender real sector growth. This chapter presents these developments and how they affect the economy, especially the financial sector. After the introduction in section one, Section 2 presents international economic developments. Section 3 discusses domestic macroeconomic and financial developments while Section 4 reviews developments in the capital market and Section 5 presents exchange rate dynamics. Movement in foreign exchange reserves is discussed in Section 6 while Section 7 reviews CBN circulars pertaining to deposit taking financial institutions and mobile payment operators.
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