Capital Markets

Nigeria Capital Markets

Given the difficulties experienced by Nigeria’s economy in 2016, every sector grappled with challenges, and capital markets were no exception. From external pressures such as low oil prices and US interest rate shifts, to internal factors such as depreciation and slowing oil production, investors in Nigeria had to account for a range of risks. These factors had a clear impact on inflows. In 2016 foreign investment in emerging markets fell to its lowest level since the 2008 global financial crisis, with capital flight accelerating in early 2017. However, the slowing of the economy has had some positive consequences. Perhaps equally important, Nigeria’s capital markets are in the midst of a robust reform programme, which should significantly improve the market’s growth and sustainability over the long term.

This chapter contains interviews with Mounir Gwarzo, Director-General, Securities and Exchange Commission; and Kayode Akinkugbe, Managing Director, FBN Merchant Bank.

Previous chapter from this report:
Banking, from The Report: Nigeria 2017
First article from this chapter and report:
Structural reforms to expand Nigeria's capital markets
Cover of The Report: Nigeria 2017

The Report

This chapter is from the Nigeria 2017 report. Explore other chapters from this report.

Interviews & Viewpoints

Sketch of Kayode Akinkugbe, Managing Director, FBN Merchant Bank
Kayode Akinkugbe, Managing Director, FBN Merchant Bank: Interview