The Central Bank of Nigeria, CBN, said it has concluded a sale of government securities, issuing 1.053 Trillion naira in short-term instruments as part of its liquidity management exercise.
The apex bank in a statement on Monday said investors were over-subscribed for the exercise which was completed on March 1, 2024.
The CBN offered 500 Billion naira at the Open Market Operations (OMO) auction and oversubscribed, selling N1.053 Trillion, with 79% of the total bids coming from foreign investors.
Meanwhile, the CBN Governor, Olayemi Cardoso has reiterated that the apex bank is committed to supporting price stability by taking the necessary measures to increase liquidity in the foreign exchange markets sustainably.
Cardoso said, “The CBN is committed to supporting price stability by taking the necessary measures to increase liquidity in the foreign exchange markets sustainably.
“Our focus is on building a fully functioning market that allows smooth entry and exit for investors,” he added.
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