The lingering foreign exchange (FX) liquidity crisis has seen investors scurry off the Nigerian market as investment inflows into Africa’s most populous nation plunged to a record low.
Analysts at FBNQuest Capital have attributed the waning appetite of foreign investors in Nigeria to the lingering FX crisis, rising inflation and worsening insecurity.
“The shift in foreign investor confidence was as a result of macroeconomic challenges, including FX liquidity concerns, rising inflation, and fiscal constraints,” the analysts said in a note on Thursday.
CCI is a document issued by banks in Nigeria to foreign investors to confirm the inflow of foreign capital into the country.
The CCI is crucial for ensuring that foreign investors can repatriate dividends and capital gains from their investments...
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