Bond Market:SEC DG Hails Foreign Investors’ Confidence

The Director-Gen
eral of Securities and Exchange Commission (SEC), Ms Arunma Oteh, has said that the huge investment in the Nigerian bond market by foreign investors was a demonstration of the confidence the investors have in the country’s economy.
The SEC boss said that foreign investors have invested about N864 billion in the Nigerian bond market during the 2013 fiscal year.
The DG during the 3rd Annual Capital Market Retreat said that the country’s domestic bond market has benefited from being enlisted into Barclays emerging market bond index and JP Morgan Local currency bond index in October 2012.
Oteh reiterated that this foreign enlistment into international market has put the nations local currency bond market within radar of foreign investors.
According to the Director, foreign investors were only holding approximately N192 billion ($1.2 billion) bond in the nation’s bond market, adding that the increase was a commendable advancement.
She also noted that in April 2013, the nation’s domestic bond market got a boost as a result of the inclusion in the foreign market.
Oteh said that Treasury Bills also improved from 2.3 billion dollars to 6.2 billion dollars.
SEC boss added that bond market has the potentials to outgrow and even compete with the equity market, as well as bridge the gap in infrastructural development.