My column last Monday was on CBN bills. You can read it here. An interesting thing I didn’t mention was how the use of CBN bills has evolved over time.
First thing you notice is the explosion sometime in 2016. NIFEX window anyone? Second thing is the continued growth to unprecedented levels. I know, there is an inflation and exchange rate story there but even you look at the inflation adjusted levels the story is the same.
Where does it all end?
