By Abimbola Ogunnaike
The Federal Government has disclosed that it issued N8 trillion in government security, known as treasury bills, to stabilize and boost the economy.
Minister of Finance, Wale Edun, made this disclosure in an interview with newsmen on Thursday, 18 April, 2024 during the International Monetary Fund, IMF/World Bank spring meetings in Washington D.C., United States of America.
Edu 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.
