The Chief Executive Officer of the Nigerian Stock Exchange , Mr. Oscar Onyema, has identified the Central Bank of Nigeria’s restriction of domestic investors from participating in its open market operations as well as the interest rate cut as policies that have continued to buoy the stock market performance.
Onyema explained that the Nigerian economy as well as its financial market, like every other economy in the world, had been greatly impacted by COVID -19 and the associated economic challenges. “So, the equities market is just reflecting that. I must say that some of the policy changes I made reference to include the CBN policy that domestic institutional investors should stop participating in the OMO market.
According to the NSE boss, since the Nigerian economy has shifted into a negative real interest rate environment, investors are now in search of investments that would give them higher yields and returns.
God bless Nigeria
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