They are: - first securities discount house ltd - express discount house ltd - associated discount house ltd - kakawa discount house ltd and - consolidated discount house ltd 17 part four 41 a review of discount houses performance in the development of the nigeria money market since inception, the discount houses have especially increased the level of activity in the secondary market for government securities. Instrument and discount houses total assets and shareholders fund as well as the relationship between economic growth and discount houses total assets and shareholders fund using econometric techniques the paper is divided into sections next to this introduction is literature review and conceptual framework.
Discount houses and the changing financial landscape in nigeria 2 10 introduction discount houses generally are non-bank financial institutions established to.
Export discount houses to excel facts : 1/1/1995 national clearing system re-visited :in january 1995, a revised clearing rule became operational to facilitate effective clearing of financial instruments and shorten the period of clearing. The central bank of nigeria (cbn) friday revoked the operating licence of express discount limited (edl) due to the inability of its shareholders to inject a minimum capital injection of n21 billion to enable the company continue in business.
The central bank of nigeria (cbn) friday revoked the operating licence of express discount limited (edl) due to the inability of its shareholders to inject a minimum capital injection of n21 billion to enable the company continue in business this is in pursuant to section 2 paragraph (d) of the cbn. There are five discount houses in nigeria wholly owned by consortiums of banks and other financial institutions as allowed in the discount house guidelines 2004 by the central bank of nigeria.
Five discount houses have operated in nigeria, starting with three in 1993 the two others joined later, beginning operations in 1995 and 1996 a long period of market presence, obviously, but much are they known and to what extend are their services known about to the general public, the answer will be a clear 'little.
Kakawa discount house is one of the five operational discount houses in nigeria which serves as government financial tools and acts as a middle access points between all other banks in nigeria and the apex bank of nigeria, the central bank of nigeria as with all discount houses trade in governments bonds and treasury bills are the primary business functions.