By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: CBN Sells N1trn in Government Securities, Auction Records Oversubscription
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
BusinessNews

CBN Sells N1trn in Government Securities, Auction Records Oversubscription

Muhammad A. Aliyu
By Muhammad A. Aliyu
Published: March 4, 2024
Share
2 Min Read
Central Bank of Nigeria (CBN)
Central Bank of Nigeria (CBN)
SHARE

The Central Bank of Nigeria (CBN) has announced the successful conclusion of a government securities sale, issuing N1.053 trillion (US$680 million) in short-term instruments as part of its strategic liquidity management exercise.

The auction, which took place on Friday, March 1, saw an oversubscription of the initially offered N500 billion, indicating strong investor confidence.

Of the total bids received, 79%, equivalent to US$530 million, came from foreign investors, reflecting a notable interest in the Nigerian financial market. This development follows the recent Monetary Policy Committee meeting where the CBN Governor, Mr. Olayemi Cardoso, outlined a comprehensive strategy to address key economic challenges, including inflation control, exchange rate stabilization, and overall economic confidence.

The auction marked the first significant monetary move since the policy meeting and a subsequent virtual engagement with foreign portfolio investors. During these interactions, Governor Cardoso presented a detailed plan to curb inflation, stabilize the exchange rate, and enhance confidence in the banking system and the broader economy.

- Advertisement -

In discussions with investors, Mr. Cardoso emphasized the CBN’s commitment to ensuring sustained increases in foreign currency reserves, improving liquidity in the foreign exchange market, and promptly settling the remaining backlog of legitimate foreign exchange transactions.

“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,” stated Governor Cardoso.

Hakama Sidi Ali, the Acting Director of the Corporate Communications Department at the CBN, expressed satisfaction with the level of confidence demonstrated by investors in the bank. She highlighted that the management of the CBN is optimistic that its monetary policy measures are beginning to yield positive results

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:CBN
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByMuhammad A. Aliyu
Follow:
Muhammad Ameer Aliyu, is a prolific journalist who joined Okay Nigeria in 2015 with the aim staying committed to bringing more positive growth to the digital news platform. He is the Senior Editor at Okay Nigeria.
Previous Article Three Days Weather Forecasts in Nigeria [3rd – 5th March 2024]
Next Article FG Launches Nationwide Grain Distribution

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 4 days ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Pastor Adeboye
Pastor Adeboye Shares Divine Directive: Leaving RCCG Could Lead to Tragic Loss
News
Anglican Bishop of Lafia Calls on President Tinubu to Address Root Causes of Nigeria’s Insecurity and Economic Woes
News
Egbe Bobakeye Okunrin Akile Ijebu Refutes False Claims About Queen Elizabeth II’s 1956 Visit
News
NRC Managing Director Warns Against Railway Vandalism: “We Don’t Have Scraps, We Have National Assets”
News
Tragic Head-On Collision in Jigawa Claims Nine Lives, Dozens Injured
News
- Advertisement -
Ad imageAd image

You May Also Like

Sport

Victor Osimhen Returns to Nigeria as Al Hilal Transfer Hangs in Balance Ahead of FIFA Club World Cup

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 7, 2025
News

Tinubu Urged by PDP to Cut Fuel and Electricity Costs Amid Eid-el-Kabir Festivities

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 7, 2025
Mike Ejeagha
News

Mike Ejeagha, Nigerian Highlife Maestro, Dies at 95

Muhammad A. Aliyu
Muhammad A. Aliyu
June 7, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?