Nume Ekeghe

The Association of Assets Custodians of Nigeria (AACN) has said that the country has recorded an increase in the volume of foreign portfolio investments (FPIs) in the past few weeks.Kemi-Adewole

President of AACN, Mrs. Kemi Adewole stated this yesterday at a media briefing to announce the association’s upcoming investor annual conference.
She noted that the development was largely influenced by the peaceful outcome of the general elections.

Adewole said: “As we speak, we have already seen greater inflows from the foreign portfolio investors. They have different strategies when they come into the country, some come in to trade and leave while some invest on a long term.

“Before the elections, because they were not sure of the outcome of the election, a few of them stopped trading actively, a few withdrew from the market but immediately we had the elections and the outcome was peaceful we have seen them come back into the market. So the response has been a very positive one.”

She also announced that the association’s fourth annual investor conference would hold on the 7th of May, 2015, in London with the theme of the conference titled: “Nigeria Navigating changes, Extracting opportunities.”

The purpose of the event is to provide expert insight on current market trends in Nigeria and also an opportunity for foreign investors to interact with market operators directly and is sponsored by the FMDQ OTC plc and the Central Securities Clearing systems (CSCS).

“This year, the theme is concentrating on the opportunities in the market and as custodians. We deal with a lot of foreign portfolio investors and we take that upon ourselves to ensure that foreign portfolio investors continue to invest in Nigeria and ensure they have a good understanding of the market.” Adewole said.

Expected speakers and discussants include the Governor of the Central Bank of Nigeria (CBN, Mr. Godwin Emefiele, The acting director general of the Securities and Exchange commission (SEC), Mr. Mounir Gwarzo, the Executive Director, Market operations and technology, Nigerian Stock exchange (NSE), Mr. Adeolu Bajomo and the CEO of CSCS Mr. KyariAbba Bukar, amongst others.

Also, the Second Vice president AACN, Mrs. Taiwo Sonola said: “We are beginning to see more investors coming into the country because they are more comfortable that the country is stable and Nigeria which is an emerging market and we believe in the next year or two we would have a larger inflow of investors into the market.”

On his part, the Vice President, AACN, Mr. Akeem Oyewale said: At this conference, we are taking with us the CEOs of thre exchanges in Nigeria which are the CEO of FMDQ OTC, NASD plc and the executive director of the NSE.
They would tell the investors on the offerings they have in the market and we expect that there would be a lot of engagement between them and the investors they would meet.”

“This platform has enabled foreign portfolio investors to network with regulators directly which has improved confidence in the market, “he added

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