News Formal

Why Nigerian govt issued N8trn treasury bills – Finance Minister, Edun

  • 📰 DailyPostNGR
  • ⏱ Reading Time:
  • 20 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 59%

Edun News

Finance Minister

Minister of Finance, Wale Edun, has said that the Nigerian Government issued N8 trillion in government security, known as treasury bills, to stabilize and boost the economy. He disclosed this in an interview with journalists on Thursday during the International Monetary Fund, IMF/World Bank spring meetings in Washington D.C.

, United States of America. He noted that the fiscal authority and the Central Bank of Nigeria, CBN, have collaborated to attract foreign investment through securities issuance. “A large part of the securities that have been sold, the dollars come, and they get naira in exchange and use it to invest in securities,” Edun explained.

“Out of N8 trillion that has roughly been issued in securities by the CBN and ministry of finance, the majority has come from treasury bills, treasury certificates. “It is showing the complementarity of the CBN, signalling by the fiscal authorities rising to the challenge of providing enough merchandise for foreigners to bring their dollars and invest in naira securities,” he stated.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 11. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Abiodun Sowemimo: Leading finance’s future with Forbes Finance CouncilIn March 2024, the global business community welcomed a visionary leader and innovative thinker, Abiodun Sowemimo, into its esteemed ranks. As the Founder and CEO of CapitalMetriQ Swift Bank, iNet Telecommunications, InfoMetriQ Data Network, and Cyberpedia.app.
Source: DailyPostNGR - 🏆 11. / 59 Read more »

Ahmad Gumi: Gunmen finance themselves from kidnapping -- no Nigerian is funding themNigeria's independent online newspaper
Source: thecableng - 🏆 2. / 80 Read more »

Olam Agri reaffirms commitment to food security, meets minister of financeNigeria's independent online newspaper
Source: thecableng - 🏆 2. / 80 Read more »

Nigeria's Economy Moving in the Right Direction, Says Finance MinisterWale Edun, minister of finance and coordinating minister of the economy, states that Nigeria's economy is improving due to the positive impact of current administration policies. The government has made significant progress in terms of oil revenues and stabilizing the foreign exchange market.
Source: thecableng - 🏆 2. / 80 Read more »