According to Bayo Onanuga, Special Adviser Information and Strategy to President Tinubu: “The Naira gained the most almost two months after the federal government announced its debut domestic dollar-bond issue, which attracted significant demand.
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| The Nigerian legal tender, Naira |
“According to Bloomberg data, the Naira surged 4.8% against the dollar on Wednesday, the most considerable increase since July 22. The currency closed at 1,558 naira per dollar, its most substantial level against the greenback since Aug. 21.
Finance Minister Wale Edun said the government raised $900 million in its first domestic sale of dollar-denominated bonds, almost double the targeted amount.”
