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Nigeria s economy: Still a cautious outlook
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NGX Reveals Results Of Half Year Review Of Market Indices
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Mixed outlook as cost of funds defies N515bn inflow
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Views: Visits 7 By Babajide Komolafe Cost of funds in the interbank money market rose to 19.2 per cent last week, defying N515 billion inflow during the week. The inflow comprised N110 billion from matured secondary market (Open Market Operations, OMO) treasury bills, N14.91 billion from FGN Bond Coupon payment and statutory allocation of N390 billion from Federation Accounts Allocation Committee (FAAC) to the state. READ ALSOConfession video of ESN member: Nnamdi Kanu is 419, he should lead from Nigeria The impact of the inflow was, however, cancelled by outflow comprising N87.95 billion through Nigerian Treasury Bills (NTB) issuance, N41 billion through OMO bills auction, debit for Cash Reserve Ratio (CRR) and foreign exchange auction.
Reversing the downward trend in Foreign Investment inflow
On
By Babajide Komolafe
From 2017 to 2019, Nigeria enjoyed a strong romance with foreign investors. During this period foreign investors injected $53 billion into the nation’s economy.
Driven by a series of foreign exchange market reforms introduced by the Central Bank of Nigeria (CBN) between 2016 and 2017, including the introduction of the Investors and Exporters (I&E) window and the Naira Denominated Forwards, foreign investment inflow or foreign capital importation into the country rose by 138.7 per cent to $12.228 billion in 2017, from $5.124 billion in 2016.
This upward trend continued in 2018 and 2019 with foreign investment rising by 38 per cent and 30 per cent respectively to $16.812 billion and $23.99 billion.