Business
US Institutional Investors Table Terms For Investment In Nigeria
Institutional investors from the United States of America (USA) under the Institutional Investor Network (IIN) have tabled cconditions for direct investment opportunities in the Nigerian capital market.
This was part of conversations at a recent engagement between the Nigerian Exchange Limited (NGX) and a delegation from the IIN facilitated by Chapel Hill Denham, which was marked by a Closing Gong Ceremony.
The delegation called on stakeholders, particulary the authorities, to ponder regulatory reforms to make the Nigrian market more attractive.
The delegation was made up of the United States Agency for International Development (USAID), Prosper Africa and Power Africa. During the engagement.
Senior Investment Advisor, Prosper Africa, Cameron Khowsroshahi, who led the delegation declared the openness of the US institutional investors in working with Nigerian institutional investors including pension funds to explore more avenues for investment in the Nigerian capital market.
He pointed out that in the US, pension funds, some of whom were represented at the engagement, were allowed by regulation to invest 60 to 75 percent of their capital in equities and funds targeting equities.
Khowsroshahi urged the Nigerian stakeholders to work with the pension regulator to allow pension funds inject more of their liquidity into the Nigerian equities market.
He also noted that there needs to be a new chapter in Africa and the US economic relationship, adding that private capital from both sides play a pivotal role in achieving sustainable solutions for Nigeria and Africa.
Chief Executive Officer, NGX, Temi Popoola, emphasised the innovative activities of the Exchange around catalysing capital formation by both foreign and domestic investors.
He said, “We are working hand-in-hand with (the) government to create an attractive environment for listings and also on product innovation that can creatively channel more funds into the market”.
He highlighted the NGX’s technology innovations including the Technology Board to encourage listings from tech startups, and digital market access, which he said would spur the younger generation of Nigerians to invest in the market.
On his part, CEO, Chapel Hill Denham, Bolaji Balogun, expressed optimism that the Nigerian market would emulate the US market as regards lesser risk aversion to investing pensions in equities.
The Nigerian Economic Summit Group (NESG) has projected that the country has the potential to achieve a 5.5% growth in Gross Domestic Product (GDP) if critical policy reforms are sustained.
This was disclosed on Thursday during the launch of the NESG’s 2025 Macroeconomic Outlook report.
Speaking at the event, the Chief Economist and Director of Research & Development at NESG, Dr. Olusegun Omisakin, highlighted the need for more efficient policy implementation to unlock Nigeria’s economic potential.
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“We believe at the optimal level, if we embark on more efficient policy reforms, the Nigerian economy has the potential, the GDP to end up at 5.5 per cent, and we believe that this is achievable,” Omisakin stated.
More to follow……….
The Central Bank of Nigeria (CBN) has announced the release of the Nigerian Foreign Exchange (FX) Code, a set of guidelines designed to promote ethical conduct among authorized dealers in the country’s FX market.
In a statement, the apex bank disclosed that the official launch of the Code would take place on Tuesday, January 28, 2025, at the CBN Head Office Auditorium in Abuja.
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“The Central Bank of Nigeria has approved the release of the Nigerian Foreign Exchange (FX) Code as a guideline to the banking industry to promote the ethical conduct of authorised dealers in the Nigerian Foreign Exchange Market,” the statement read.
The introduction of the FX Code is expected to enhance transparency, accountability, and professionalism within Nigeria’s foreign exchange ecosystem, aligning it with global best practices.
The event is anticipated to attract key stakeholders in the financial and banking sectors, as well as representatives from authorized FX-dealing institutions across the country.
The 47th President of the United States, Donald Trump attracted up 3 trillion dollars in investments into the country’s economy in his first full day at work.
This was gleaned from the verified handle of the POTUS on micro-blogging site, X, on Wednesday.
Biztellers reports that the POTUS is focused ensuring at least $1 trillion investment daily for the first seven days of his return to the White House, which would be driven by key clearly identified areas, including artificial intelligence.
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President Trump wrote, “In total, before the end of my first full business day in Washington and the White House, we’ve already secured nearly $3 trillion of new investments in the United States.
“And probably, that’s going to be six or seven by the end of the week.”
In a short video clip accompanying the statement, President Trump assured that the surge in investments would likely hit $7 trillion within his first seven days as the 47th POTUS.
He highlighted that artificial intelligence had proven to be an area lots of willing entrepreneurs had shown much appetite for.
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