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LequteMan
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Nigeria's debt market regulator has widened the bid-ask spreads on bond trading to 1 naira from 0.30 naira to contain volatility following JP Morgan's decision to remove Nigeria from its bond index, Reuters reports.
In a separate development, the central bank on Thursday reduced the time limit for funding currency purchases to 24 hours from 48 hours to stem a surge in the demand for the dollars.
The stock market fell for a second day, down 2.62 percent in early trades as foreign investors, panicked by the bond expulsion, sold shares to exit Nigeria.
In a separate development, the central bank on Thursday reduced the time limit for funding currency purchases to 24 hours from 48 hours to stem a surge in the demand for the dollars.
The stock market fell for a second day, down 2.62 percent in early trades as foreign investors, panicked by the bond expulsion, sold shares to exit Nigeria.
