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Foreign Investors Return to Nigeria, Eyeing High Yields Amid Interest Rate Hike šš¼ š³š¬
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#currencies
#investments
As Nigeria's Central Bank implements reforms and raises interest rates to combat inflation, foreign investors are flocking back to the country's government securities market. With an uptick in Foreign Portfolio Investments (FPIs) and growing investor confidence, Nigeria is becoming an attractive destination for investors seeking high yields amidst global economic uncertainties.
Foreign investors are making a comeback to Nigeria's government securities market, attracted by a hike in benchmark interest rates and reforms by the Central Bank. The Nigerian Exchange Limited (NGX) saw a notable increase in Foreign Portfolio Investments (FPIs) in February 2024, reflecting growing investor confidence in the market. Analysts suggest that the rise in interest rates is drawing foreign investors back, potentially stabilizing the currency and providing liquidity crucial for the economy. The trend is expected to continue, especially with the Central Bank's recent directives on bank recapitalization, which could further attract foreign capital and boost the financial system's stability.
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