Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, revealed that the fiscal authority has collaborated with the Central Bank to issue N8 trillion in government securities, including treasury bills and treasury certificates.
Edun discussed this initiative during the International Monetary Fund (IMF)/World Bank spring meetings in Washington D.C., emphasizing the critical role of these securities in attracting foreign investment.
He highlighted the complementary efforts between the fiscal authority and the Central Bank in stabilizing the economy, noting that the majority of the issued securities have come from treasury bills and certificates.
Regarding borrowing between the CBN and the federal government, Edun clarified that no such transactions have taken place under the current administration, reaffirming the government’s commitment to fiscal responsibility and transparency.
Source: Business Day