Lagos, Nigeria
Wahala don burst as Central Bank of Nigeria (CBN) don talk say dem go take over the fixed income market by December dis year. How e be? E get as CBN wan take direct oversight of the trading platform wey FMDQ Group dey manage as part of una reforms to fit make everything sabi, clear, and efficient. Na wetin all dis financial market wahala be?
According to wetin Okey Umeano, wey be di acting director of financial markets department for CBN talk in one circular wey dem drop on September 29, e say this move go make CBN fit manage things better and also support monetary policy make economy dey grow like palm tree for di village.
CBN gree say dem go implement dis plan in stages so nobody go waka comot for road. Dem go start with end-to-end testing for di new settlement process wey dey come in mid-October 2025. If dem pass di test, then dem go launch di pilot phase to go hand-in-hand with wetin dey happen now, all because dem wan ensure say everything dey stable. E be like say dem don sabi put things for order.
The full migration for di fixed income market settlement activities go happen on November 3, 2025, and dem wan make sure say trading for primary dealers and other important people go take off by December 1, 2025. Na serious gist o, my people! CBN dey try to modernize things make everything clear and transparent.”
CBN don talk say dem need cooperation from Financial Markets Dealers Association (FMDA) because dem sabi say dem dey vital for this financial market matter. Na dem get the ear of market participants, and na wetin CBN leave dem for hand so dem no go mess up di place.
As per CBN promise, dem go take dem time to ensure everything dey go smooth, abi na wetin dem dey call am? “Coordinated manner.” E go make sense if dem follow this plan well, so that no body go dey oye or vex for market.
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