Developments in the Financial System during the Second Quarter of 1989

Authors

Central Bank of Nigeria CBN, Central Bank of Nigeria

Publisher

Central Bank of Nigeria

Keywords

Financial System, Finance, Nigeria, Second Quarter

Abstract

The financial system was under intense pressure in the second quarter of 1989 following the measures adopted by the monetary authorities to reduce the liquidity of the banking system and thereby combat the inflationary pressure in the economy and continued depreciation of the Naira exchange rate. The gradual strengthening of the squeeze on liquidity was accompanied by liquidity crisis among some banks towards the end of the quarter.

Author Bio

The authors are staff of the Money and Banking Office, Domestic Finance Division, Research Department, Central Bank of Nigeria

Publication Title

CBN Economic and Financial Review

Issue

2

Volume

27

Recommended Citation

Central Bank of Nigeria (1989). Developments in the Financial System during the Second Quarter of 1989. CBN Economic and Financial Review. 27(2), 1-8.