The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has stated that the $500m domestic FGN US dollar bond will enhance external reserves and help stabilise the foreign exchange situation in the country.

Edun made this statement on Thursday in Lagos at the hybrid roadshow ahead of the offer’s tentative opening on Monday.

“We are here today to discuss dollar funding, which is critical for the exchange rate and essential for stabilising investment and the economy. The Central Bank has adopted the ‘willing buyer, willing seller’ model, which has proven efficient and has contributed to the influx of additional dollars.

“Specifically, the flow of dollars into the economy has improved through portfolio investors, foreign direct investors, and multilateral organisations that have supported the President’s macroeconomic policies. Today, we are playing a significant role in this process with the domestic issuance of US dollar bonds, aimed at increasing the flow of dollars into the economy.