The Central Bank of Nigeria (CBN) has removed restrictions that prevented banks from accessing its Standing Lending Facility (SLF), also known as the Discount Window, after participating in foreign exchange transactions and primary auctions of government securities.
The move is part of a review of the framework governing access to the Discount Window, Tenored Repo Operations and participation in Open Market Operations (OMO), as the apex bank seeks to improve money market functioning and strengthen monetary policy implementation.
In a circular signed by Okey Umeano, acting director, Financial Markets Department, the CBN said restrictions on access to the Discount Window arising from participation in the Nigerian Foreign Exchange Market (NFEM) have been removed.
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The Bank also removed restrictions arising from participation in primary auctions of government securities.
