|Economy|
Banks Deposit N368b With CBN to Meet Policy Demand: Deposit Money Banks have deposited N368 billion with the Central Bank of Nigeria (CBN) in fulfilment of the requirement of the 20 percent Cash Reserve Ratio (CRR). The CBN raised the CRR on private sector deposits from 15 to 20 percent last week. CRR is a portion of banks’ deposits kept with the CBN to enable it effectively manage liquidity. The deposit brings total sterilised private sector funds to N1.47 trillion, which is 9.72 percent of the total banking deposits and 8.87 percent of money supply. The total private sector deposits now stand at N7.38 trillion. Source: The Nation

NITEL/MTEL Sale: BPE Opens Bids Today: The Bureau of Public Enterprises (BPE) will officially perform the financial bids opening for the Nigerian Telecommunications Limited (NITEL) and its mobile subsidiary, the Mobile Telecommunications Limited (MTEL) today in Abuja. Today’s financial bids opening is a sequel to the recent screening of the technical and financial proposals submitted by bidders for the telecom firm after the expiration of the Friday November 7 deadline for the submission of bids. Messrs NETTAG Consortium and Natcom Consortium are the two firms who had been prequalified earlier for today’s exercise. Source: Daily Trust

Mobile Money Transactions Hit N430bn: Musa Itopa Jimo, head, payment system policy and oversight division of banking and payments system department of the Central Bank of Nigeria (CBN) disclosed that, mobile money transactions in the country has since inception in 2012 risen to N430 billion with N14 million transactions on a monthly basis and there are 21 mobile money operators (MMO) licensed by the CBN and 78,000 agents and 15 million subscribers in the country. Source: Businessday

Nigeria Attracts Largest Investments in Africa – Jonathan: President Goodluck Jonathan has revealed that, Nigeria attracted the largest investments in the whole of Africa in the last three years,. The President told private sector investors that although the country had been characterised by various challenges, businesses in Nigeria had continued to thrive. Jonathan spoke during a Presidential dinner with senior management officials of the Top 100 Businesses in Nigeria on Monday night at the banquette hall of the Presidential Villa. According to him, the top 100 businesses account for about 20 percent of the Gross Domestic Product of the country and employ millions of Nigerians. Source: Punch