Business
Expert Forecasts Tremendous Growth In Capital Market
An expert and practi
tioner in the security and exchange market, Lucas Ajanaku has said that Nigeria’s Capital market will witness a tremendous growth after the 2015 general elections.
Ajanaku who made this assertion while interacting with journalists in Port Harcourt, shortly after a function, said that the nation’s capital market had enough liquidity capable of seeing it through any difficulties.
According to him, speculations that the trading liquidity of the ‘over-the-counter (OTC) markets is weak are unfounded because the yield levels of the capital market are very attractive.
He said “after the general elections, the economy will swing on the upward trend because it has been positioned for growth due to its yield levels which are very attractive.
According to him, the OTC market is still very attractive and we expect this to continue. The investors in this segment will hold on because they have a lot of stake in the market.
“The liquidity of the market inspite of all odds has remained strong, following the increase in the trading of FOREX”, he said.
On JP Morgan’s negative outlook of Nigerian’s bond, he said that the bond market would soon reband, adding that enough evidence had been provided to JP Morgan by the regulatory bodies to ensure the Federal Government bonds return to JP Morgan Index.
He stated that the exodus of foreign investors from the nations bourse was not enough to envisage a perpetual lull in the capital market, pointing out that the country would witness the return of more foreign investors when the economic indices would have grown stronger.
Corlins Walter