5 January 2013

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

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.

Copyright © 2013 Leadership. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.