In an effort to spur market activity, the Central Bank of Nigeria has agreed to reduce charges on all treasury bills-related transactions.
Until the bank implemented a 0.01% transaction fee in 2005, banks and discount houses did not pay any fees to the CBN for these transactions.
But since the fee’s introduction, investment in the secondary market has fallen off dramatically as banks shied away from the high cost of transactions.
The fee has now been reduced to N500 flat per transaction.