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Developments In The Financial System During The Second Quarter Of 1989, Central Bank Of Nigeria Cbn
Developments In The Financial System During The Second Quarter Of 1989, Central Bank Of Nigeria Cbn
Economic and Financial Review
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.