During the International Monetary Fund (IMF)/World Bank spring meetings in Washington D.C., Minister of Finance, Wale Edun, disclosed to journalists that the Nigerian Government had issued N8 trillion in government securities, commonly known as treasury bills, as part of efforts to stabilize and fortify the economy.
Edun highlighted the collaboration between the fiscal authority and the Central Bank of Nigeria (CBN) in attracting foreign investment through the issuance of securities, underscoring the importance of such measures in fostering economic resilience and growth.
“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.
