The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has urged investors to come over to Nigeria, declaring that the nation’s Return on Investment (ROI) in all sectors of the economy are among the best in the world.
Addressing an elite gathering of capital and money market players, investment bankers, treasurers and other fund managers at the London Stock Exchange over the weekend, Emefiele’s message was summed up in one key sentence: “Nigeria is ready for business”.
At a forum organised by the London Stock Exchange, in collaboration with the Nigerian Stock Exchange, Emefiele, who drew intermittent applause from the gathering, told the story of how Nigeria emerged from what was its worst recession in decades, revealing the ongoing reforms and the huge opportunities available to investors in several sectors notably agriculture, solid minerals and infrastructure.
The CBN was particularly lauded by participants for its ingenious management of the foreign exchange market which saw the recovery of the Naira as well as the reforms in the funding of agriculture as demonstrated in the success of the Anchor Borrowers’ Programme (ABP) and the establishment of the highly successful Investors and exporters window of the foreign exchange market.
Present at the occasion were the British Minister for International Development, Hon. Priti Patel; Governor of Edo state Dr Godwin Obaseki; Nigeria’s Minister of Solid Minerals, Dr. Kayode Fayemi; CEO of the London Stock Exchange, Mr. Nikhil Rathi; CEO of the Nigerian Stock Exchange, Mr Oscar Onyema; DG of Nigeria’s Debt Management Office (DMO), Mrs Patience Oniha; and Mr Ik Chioke, Group CEO of Afrinvest.
Also at the occasion, the Nigerian Banking sector report conducted by Afrinvest was launched and it shows that Nigerian banks remain resilient and profitable in spite of the headwinds emanating from the current economic situation in the country.
Part of the highlights of the occasion was the honour given to Emefiele to ring the opening bell for trading last Friday at the London Stock Exchange.