Treasury Single Account Freezes Interbank Market, Bank Transactions Frozen

6 years ago

Nigerian banks made no bids on the interbank money market on Tuesday as they awaited instructions on how to comply with a directive to transfer government revenues into a single account with the central bank, dealers said.


President Muhammadu Buhari has ordered that all revenues be paid into the “Treasury Single Account” from Tuesday, part of a drive to fight graft.


“No trading is currently going on because no bank was willing to put out quotes until there is a clearer direction with the implementation of the Treasury Single Account (TSA),” one dealer said.


“The market is right now frozen, as no trading going on,” another trader said.


The post above and its ensuing comments, if any, is purely the opinion of the writer(s). It therefore should never be considered as an investment advise of any sort. If required, readers should please consult a competent professional financial adviser for any investment decision.
[ads4]

Related forums
I
Forum

I'm Single And Searching – Super Eagles Goalie, Maduka Okoye

2 days ago
EFCC Arraigns Airman For Theft Of N20M Mistakenly Credited To His Bank Account
Forum

EFCC Arraigns Airman For Theft Of N20M Mistakenly Credited To His Bank Account

2 days ago
High School Musical Season 3 to Cover Frozen Songs, Cast Revealed
Forum

High School Musical Season 3 to Cover Frozen Songs, Cast Revealed

3 days ago
You Have A Special Place In Hell If You Ask For Account Number And Fail To Send Money – BBNaija Star, Dorathy
Forum

You Have A Special Place In Hell If You Ask For Account Number And Fail To Send Money – BBNaija Star, Dorathy

3 days ago