Foreign investments in stock exchange hits N747bn

Between January and August 2013, the Nigerian securities boast of a total of N747bn (including inflows and outflows of Foreign Portfolio Investments) in foreign Investment.

According to Punch news ” Investigations by our correspondent on Friday at the NSE showed that between January and March 2013, the foreign transactions totalled N217.57tn, representing 42.7 per cent of the N510.1bn worth of transactions recorded in the first three months of the year.

For April to June, a total of N365.07bn worth of foreign transactions was recorded, while for the month of July, the total amount of FPIs in the NSE was N93.71bn.

The amount for July and August stood at N164.59bn, which is higher than the N150.24bn recorded at the end of June, according to the latest figures provided by NSE on its website.”

Mr Oscar Nyema ,the Chief Executive Officer of the Nigerian Stock Exchange affirmed that various reforms carried out in the Exchange Market in the last few years is the reason why foreign investors who are usually on the lookout for strong emerging markets have been showing interest in the Nigerian market. He also affirmed that local investors had begun to return to the market after their huge exit following the global meltdown and the  banking crisis in 2009.

Punch