CBN eases borrowing restrictions for banks involved in FX, government securities trading

The Central Bank of Nigeria has relaxed restrictions barring banks involved in foreign exchange transactions and government securities auctions from accessing its Discount Window, according to Punch Newspapers.

A circular signed by Acting Director Okey Umeano and published Wednesday also lifted the suspension on tenored repurchase operations and expanded Open Market Operations access to individuals, companies and non-bank financial institutions.

While FX and primary securities auction restrictions were removed, the CBN retained its rule barring same-day Discount Window access for institutions participating in OMO auctions. The changes took immediate effect.