CBN Mops Up N11.43 Trillion via T-Bills to Curb Inflation
The Central Bank of Nigeria (CBN) successfully mopped up an estimated N11.43 trillion through Nigerian Treasury Bills (NTBs), with a 10-month maturity period at a 4.01% interest rate. This move is to fuel investor demand for risk-free instruments as a hedge against double-digit inflation.
The CBN's actions are part of efforts to curb rising inflation, stabilize the foreign exchange rate, and create a balanced economic environment. The current inflation rate is at 18.02%, the lowest since July 2022, attributed to factors like foreign exchange stability and seasonal harvests.
Plus234Feed summary based on reporting from This Day. Read the original report below.
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