Saturday, 4 February 2017

CBN sells N400 billion bills to mop up money market liquidity


CBN sells N400 billion bills to mop up money market liquidity

  • facebook
CBN sells N400 billion bills to mop up money market liquidity
The Central Bank of Nigeria sold about 400 billion naira ($1.27 billion) of Treasury bills on Friday, lifting the interbank lending rate up to 12 percent, traders said.
The bank sold 82 billion naira in 181-day Treasury bills at 18 percent and 309 billion at 18.6 percent, mopping up liquidity from the money market and pushing up the cost of borrowing among commercial lenders.

Abe tells Mattis Japan will increase defense spending


Abe tells Mattis Japan will increase defense spending

Money could be poured into anti-missile system, drones, stealth jets
U.S. Defense Secretary James Mattis and Japanese Prime Minister Shinzo Abe shake hands at the prime minister's office in Tokyo on Feb. 3. (Pool photo via Reuters)
TOKYO -- Prime Minister Shinzo Abe told U.S. Defense Secretary James Mattis that Japan will expedite efforts to strengthen its defense capabilities, government officials said.
In a meeting with Mattis at the Defense Ministry on Saturday, Japanese Defense Minister Tomomi Inada told her U.S. counterpart that Japan plans to "reinforce our defense strength in terms of both quality and quantity, and expand the role we are capable of fulfilling."
Abe conveyed a similar message to Mattis the previous day, the officials said.
According to the officials, Japan is to increase its defense spending in the medium and long terms in response to increasing saber-rattling in China and North Korea.
Japan is also mulling the possibility of jointly working with the U.S. to develop arms, including fighter jets.
Mattis told Abe and Inada that both Japan and the U.S. must reinforce their defense capabilities.
Both sides agreed the Japan-U.S. alliance remains important in maintaining peace and stability in the Asia-Pacific region, and that the two countries should aim to boost their deterrence and response capabilities.
The parties also agreed that North Korea's nuclear arsenal and missiles are a serious security threat and