RE-PURCHASE OF MONEY MARKET INSTRUMENTS AND FEDERAL GOVERNMENT BONDS

CENTRAL BANK OF NIGERIA Corporate Head Office Central Business District P.M.B. 0187, Garki, Abuja, FCT TRADE & EXCHANGE DEPARTMENT Tel ......... 09 4623780 09 46237802 Fax :.

E-mail address:ted@cenbank.org TED/FEM/FPC/GEN/01/009 June 24, 2011 TO: All Authorised Dealers and The General Public RE: PURCHASE OF MONEY MARKET INSTRUMENTS AND FEDERAL GOVERNMENT BONDS This is to inform all Authorised Dealers and the General Public that paragraph (a) of the CBN circular Ref: TED/FEM/GEN/01/022 of February 21, 2007 on the above subject, which restricted foreign investors from investing and trading in Federal Government Bonds (FGBs) and Nigerian Treasury Bills (NTBs) that have a maturity of less than one (1) year is hereby removed.

Consequently, all foreign investors can now invest and trade in FGN Bonds and NTBs irrespective of their tenor in both the Primary and Secondary markets. For the avoidance of doubt, all the requirements on the issuance of CCI under paragraphs (b) to (d) of the circular under reference shall apply. The amendments take effect from July 1, 2011. However, all investments made prior to July 1, 2011 will run their full course while investment under the current policy will remain unaffected by any policy change in the future until they are liquidated. In addition, foreign investors are guaranteed unconditional repatriation of their investments on maturity from the domestic foreign exchange market Batari Musa DIRECTOR TRADE & EXCHANGE DEPARTMENT