The Central Bank of Nigeria (CBN) yesterday loosened monetary policy by injecting money into Commercial Banks in a fresh bid to save the Country's financial vein from further recession, due to dwindling oil prices in the global market.
As part of President Buhari's Anti-Graft Campaign, A directive has been issued to all commercial banks to Concede to the Single Treasury Account (TSA) at the Central Bank. This wave of liquity injection into the Commercial banks is a fail safe approach to savour the economic situation of the country, as much as the Apex Bank has come under serious criticism hinging on the effect of the policy on the already sensitive economic situation of the country.
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