Official: N153billion Flies Out of Nigeria In Foreign Portfolio Outflow

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In a week were we woke up and heard the Nigerian economy was now the largest in Africa, the Nigerian Stock Exchange has announced that the a total of N225.95billion in foreign transaction was recorded for the year to February 2014.  Total domestic transaction was N154.72billion bringing the total to N380billion.

However, there was a sharp rise in foreign portfolio outflow for the month of February as the market saw an outflow of N103.5billion compared to the N35.6billion outflow in February 2013. In total a sum of N153.6billion has been taken out of the country compared to N72.2billion in inflow. Could this be connected to the suspension of Lamido Sansui Lamido?

Methodology – The FPI outflow includes sales transactions or liquidation of portfolio investments through the stock market, whilst the FPI inflow includes purchase transactions on the Nigerian Stock Exchange (Equities only).

Download the report [gview file=”https://cdn.nairametrics.com/wp-content/uploads/2014/04/NSE-Domestic-and-FPI-Report-February-2014.pdf”]