Nigeria to Offer $500 Million of Dollar-Denominated Securities
- Government will hold off issuing a eurobond for time being
- Dollar-denominated securities to be offered within four weeks
The reforms being implemented by the government are creating a more stable exchange rate, narrowing the budget deficit and a positive trade balance.
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Nigeria’s government plans to sell $500 million of dollar-denominated securities in the domestic market to attract foreign currency held by its citizens living abroad, Finance Minister Wale Edun said.
The offering will take place within the next four weeks, Edun told reporters at a briefing in Abuja, the capital, on Thursday. While there is the opportunity to consider a eurobond offering, the government will hold off issuing one for now, he said.