25 March 2016

Nigeria: Foreign Investors Withdrew N31.84 Billion From Stock Market in February - NSE

Foreign investors withdrew a total of N31.84 billion from the country last month as they continue to sell their interest in the Nigerian Stock Exchange, NSE.

According to a data from the NSE, foreign outflows during the period increased by 20.79 per cent from N26.36 billion in January 2016 to N31.84 billion, consistent with the trend in 2015.

On the contrary, foreign inflows decreased by 35.68 per cent from N17.01 billion in January 2016 to N10.94 billion in February 2016

Year-to-date, the total foreign investment outflow from the market stood at N58.20 billion, representing an increase of over N27.95 billion inflow within the same period.

Meanwhile, analysts at Ezcellon Capital have said that the decision by the Monetary Policy Committee of the Central Bank of Nigeria, CBN, to increase the benchmark rate from 11 per cent to 12 per cent and hike the Cash Reserve Ratio, CRR, for banks to 22.5 per cent from 20 per cent would not have anticipated impact in increasing foreign investment inflow into the country.

They observed that except a proper guidance was provided on the nation's foreign exchange policy guidelines, investors would continue their "wait and look" stance on the Nigerian economy.


Anxiety Over Order of Elections - NASS Override Awaiting Presidential Veto?

The stage is set for a possible presidential veto on the proposed amendments to the Electoral Act which, from all… Read more »

Copyright © 2016 Vanguard. 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 800 reports a day from more than 140 news organizations and over 500 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.