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Nairaland Forum / Nairaland / General / Business / Nigeria Downgraded From FTSE Russell Equity Index (166 Views)
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Nigeria Downgraded From FTSE Russell Equity Index by 4Play(m): 8:36am On Sep 18, 2023 |
Nigeria has been demoted from a frontier market to an unclassified market one year after an annual equity country classification review by FTSE Russell, a subsidiary of London Stock Exchange Group, placed Africa’s largest economy on its watch list of countries monitored for possible reclassification. https://www.premiumtimesng.com/news/top-news/624940-nigeria-downgraded-on-ftse-russell-equity-indices.html 1 Like 1 Share
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Re: Nigeria Downgraded From FTSE Russell Equity Index by HopeSpencer: 8:38am On Sep 18, 2023 |
. They downgraded Nigeria in their useless ratings because investors won't be able to move their dollars out of Nigeria easily. We call it capital flights. Oyinbo no happy that government won't let them enjoy their spoil in peace. . 1 Like |
Re: Nigeria Downgraded From FTSE Russell Equity Index by EmeeNaka: 8:47am On Sep 18, 2023 |
Story this is. These are the hallmarks of Tinubu idiotic administration |
Re: Nigeria Downgraded From FTSE Russell Equity Index by 4Play(m): 8:52am On Sep 18, 2023 |
There has been a lot of hullabaloo about reforms undertaken by this government. A few weeks ago, for instance, I was arguing the government was wrong to immediately remove fuel subsidy. In hindsight, I have come to realise what seems to have been done is to effectively reduce subsidy, not eliminate it. That's not bad in itself (I prefer this) but the deceptiveness of government policy pronouncements fuels mistrust. The same thing is happening with the FX market where I have always thought immediate liberalization is necessary to eliminate the gap between the official and black markets and enable the market determine the exchange rate. In reality, what they have done is depreciate the official rate but the chasm between it and the black market rate remains and is increasing. In reality, not much has changed but a little bit of honesty and transparency would be useful to help buoy international investors' confidence. Nigerians already have a reputation for being deceitful, it's unhelpful if the Nigerian government conforms to that stereotype. 2 Likes |
Re: Nigeria Downgraded From FTSE Russell Equity Index by 4Play(m): 8:53am On Sep 18, 2023 |
HopeSpencer: So to you, this is good news? You can't easily attract capital if capital repatriation is hindered. Nigeria won't grow without large scale capital importation. 3 Likes 1 Share |
Re: Nigeria Downgraded From FTSE Russell Equity Index by HopeSpencer: 8:56am On Sep 18, 2023 |
4Play: Good news or no good news, what do I stand to gain from Nigeria? |
Re: Nigeria Downgraded From FTSE Russell Equity Index by Nbote(m): 9:09am On Sep 18, 2023 |
HopeSpencer: So investors doing business should suffer for the cluelessness of your government ![]() ![]() |
Re: Nigeria Downgraded From FTSE Russell Equity Index by Swiftgrp: 7:11am On Oct 05, 2023 |
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