Hedge Fund News From HedgeCo.Net


$4bn Withdrawn from Nigeria Stock Market

Daily Guide – Foreign investors in the Nigerian capital market withdrew some $4 billion from the Nigeria Stock Exchange and precipitated its steep decline, the Exchange’s Director General, Professor Ndidi Okereke-Onyiuke has said.

Appearing  before the joint Senate Committees on Finance, Capital Market, Banking, Insurance and other financial institutions investigating the economic crisis facing the country, Mrs Okereke-Onyiuke said in 2008, foreign hedge fund managers went out and withdrew their investment of N556 billion due to the financial crisis in their countries.

Okereke, who was responding to questions posed to her by Senators as to the reasons why share prices in the stock market kept crashing despite assurances by financial managers that the fundamentals of the nation’s economy are strong, said hedge fund managers were shocked by the global financial crisis and quickly withdrew their investments from Nigeria and took it back to their countries.

Read Complete Article

Related Posts Plugin for WordPress, Blogger...

About the HedgeCo News Team

The Hedge Fund News Team stays on top of breaking news in the Hedge Fund industry on an hourly basis. Signup to HedgeCo.Net to recieve Daily or Weekly news updates from our team.
This entry was posted in Syndicated and tagged , , , , , , , , , , , , , , , , , . Bookmark the permalink.

Comments are closed.