Nigeria plans to issue USD-denominated domestic bonds in Q2 2024 to attract foreign exchange, stabilize naira, and deepen capital market.

Nigeria's Federal Government plans to issue domestic foreign currency-denominated bonds in Q2 2024, targeting Nigerians at home and abroad holding US dollars due to lack of faith in the local currency. The move aims to attract more foreign exchange inflows, stabilize the naira, and deepen the capital market. Bond issuance will be financed by borrowings from local and international investors and multilateral lenders.

April 03, 2024
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