The Nation Newspaper Foreign investors' transactions rise by 28% on forex liquidity
Foreign portfolio investors appeared to be increasingly active in the Nigerian investment market with more than a quarter increase in transactions in recent period. released yesterday showed that total foreign transactions at the market increased by 28.19 per cent from N94.26 billion or $70.83 million in March 2024 to N120.83 billion or $90.83 million in April 2024.
With these, total transactions at the NGX in April 2024 dropped to N346.23 billion or $260.24 million, a decrease of 35.7 per cent from N538.54 billion or $404.69 million recorded in March 2024. The new government of President Bola Tinubu, which marks its one-year anniversary tomorrow, abolished the multiple forex rates, alongside removal of equally debilitating petrol subsidy.
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