2012-06-22 | BPS/DIR/GEN/CIR/01/010

Exposure Draft Guidelines on Securities Settlement in Nigeria

Government Securities are financial instruments issued by the Central Bank of Nigeria on behalf of the Federal Government. These include Nigerian Treasury Bills (NTB), Nigerian Treasury Certificates (NTC), Treasury Bonds, FGN Bonds, and FRN Development Stocks. The Primary Market involves issuing these securities through two types of auctions: Dutch auction system for short-term debt instruments like NTBs, and Common Price auction for long-term debt instruments like FGN Bonds. In the Secondary Market, previously issued securities are traded on various platforms such as CBN's T24, CSCS, and Reuters. Trading activities in the secondary market follow a two-day settlement cycle.

Nigeria

Central Bank of Nigeria

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