Naira settles at n378 to dollar as cbn rolls over n47 6bn ntb wednesday

It appears that the Nigerian Naira (NGN) has stabilized against the US Dollar (USD) at a rate of N378 to the dollar, as announced by the Central Bank of Nigeria (CBN) on Wednesday.

The CBN also rolled over N47.6 billion in Nigerian Treasury Bills (NTBs) on the same day. This means that the bank has extended the maturity of these short-term government securities by one year, allowing the government to raise more funds to finance its activities.

Here's a breakdown of the key points:

1. Naira-Dollar Exchange Rate: The Naira has stabilized at N378 to the dollar, indicating a relatively stable exchange rate.
2. CBN's Intervention: The CBN has intervened in the foreign exchange market to maintain stability and prevent excessive fluctuations in the exchange rate.
3. NTB Roll-Over: The CBN has rolled over N47.6 billion in NTBs, extending the maturity of these securities by one year. This allows the government to raise more funds to finance its activities.

Overall, this development suggests that the CBN is taking steps to maintain stability in the foreign exchange market and support the government's fiscal activities.