•FG’s domestic debt increased by N3.28trn in H1 as debt service rose to 40.74%
•Renews bilateral currency swap agreement with China
James Emejo in Abuja
The Central Bank of Nigeria (CBN) yesterday said it offered treasury bills amounting to N7.33 trillion in the first half of the year (H1 2022) while total public subscriptions amounted to N10.94 trillion.
The bank also stated that the total outstanding FGN domestic debt stock amounted to N20.91 trillion, representing an increase of N3.28 trillion or 18.59 per cent outstanding as of June 2022, which was higher than the N17.63 trillion recorded in June 2021.
This was contained in the CBN Financial Market Half-Year Activity Report 2022, which was obtained from the central bank’s website yesterday.
Consequently, the report noted that the cost of debt service increased by 40.74 per cent to N1.37 trillion at half-year compared to N977.03 billion in June last year, due to the increase in borrowings by the…
Source: Thisday Newspaper
