Leadership (Abuja)

Nigeria: Zero Allocation to SEC Will Affect Foreign Investment Inflow - Operators

5 January 2013

Some capital market operators have said that the zero allocation to the Securities and Exchange Commission (SEC) in the 2013 federal budget could affect foreign investment inflow.

The operators told the News Agency of Nigeria in Lagos on Friday that the impasse might affect the confidence of foreign investors in the nation's economy.

The Managing Director, Compass Securities Ltd., Mr. Emeka Madubuike, said the decision of the National Assembly could scare away investors from the market.

Madubuike said that foreign investors would have doubts in investing in the market if the current impasse was not resolved immediately.

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