Nigeria's Finance Minister, Wale Edun, announced a $4B increase in foreign reserves and plans for a $500M FGN bond.

Nigeria's Finance Minister, Wale Edun, announced that foreign reserves have grown by $4 billion since January, crediting fiscal policies, reforms, and President Bola Tinubu's administration for the growth. Edun also shared plans to issue a $500 million FGN bond to boost liquidity and support the economy, improve foreign exchange reserves, and stabilize the exchange rate. The bond is part of efforts to invest in key economic sectors and increase the flow of foreign exchange.

August 15, 2024
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