Tag
FOREIGN INFLOW
Foreign portfolio inflow into the Nigerian Exchange (NGX) in the first half of 2024 was about $161.4 million, representing a 14% year-on-year growth from $141.8 million as at the first half of 2023.
The Central Bank of Nigeria (CBN) has disclosed that over 75% of bids received during the auctions of government securities held on March 1 and 6, 2024, were from foreign investors, showcasing their growing interest in Nigeria's financial instruments.
The decline in the number of foreign inflows has caused a huge FX supply shortage in the economy, piling more pressure on the exchange rate...
Financial analysts have said that the build-up to the 2023 election will keep foreign investors at bay and throw up more financial account-related concerns.