The Central Bank of Nigeria says it offered treasury bills amounting to N7.33 trillion in the first half of the year while total public subscriptions amounted to N10.94 trillion.
The bank also stated that the total outstanding FGN domestic debt stock amounted to N20.91 trillion, representing an increase of N3.28 trillion or 18.59 per cent outstanding as of June 2022, which was higher than the N17.63 trillion recorded in June 2021.
The CBN explained that it sustained its intervention in the foreign exchange market during the review period to enhance supply, moderate demand pressures, and preserve the value of the naira, stressing that intervention was made through sales for invisibles, small and medium enterprises and at the Investors’ & Exporters’ window and interbank secondary market intervention sales.
The CBN further disclosed that it made purchases from autonomous sources, particularly from oil-producing and servicing companies.