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The Central Bank of Nigeria (CBN) has unveiled new guidelines which empowers foreigners to invest in short-term debts and securities.
Under the arrangement, foreigners can now invest in Treasury Bills (T-Bills), Federal Government Bonds, certificates of deposit, commercial paper, bankers’ acceptances, and repurchase agreements. The instruments have maturities ranging from one day to a year.
Accoding to CBN Acting Director, Trade and Exchange Department, W.D. Gotring, only funds that came in through authorised dealer by resident/non-resident Nigerian nationals and companies specifically for the purpose of investment would be eligible for the transactions.
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