Offshore Investment in Fixed Income Market Now $12b

The total value of offshore investment in Nigeria’s fixed income instruments has been put at about $12 billion.

A breakdown of this figure, according to a report, showed that while about 30% of the funds were invested in the treasury bills market, 15% in FGN bond market, 10% had been staked on open market operations (OMO) bills.

The report however pointed out that most significant position had been taken at the primary market, saying that in order to avoid driving prices down, there would be need for investors to wait for maturity in order to exit.

CSL Stockbrokers, a division of FCMB (UK) Limited stated this in a report titled: “Are Concerns about the Naira Founded?”