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LequteMan
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Operators in Nigeria's capital market have expressed worries over Barclays Bank's intention to delist the Federal Government’s bond from its index, Guardian says.
The index provider had said it would drop Nigeria from its index, citing same lack of liquidity and currency restrictions and coming on the heels of the pronouncement by JP Morgan to delist Nigerian bond from its index.
However, operators have urged the government to take more proactive fiscal measures to restore confidence in the nation’s economy, stressing the need for it to work out modalities that would help to forestall further occurrence.
“I think we should go back to drawing board. All these issues we are talking about have to do with discussion. We need to work out short to medium term framework within which we think we all can get down those hurdles and there will be a win-win situation for every body," a stockbroker with Meristem Securities, Baba Ibrahim, said.
The Managing Director/CEO of Highcap Securities Limited, David Adonri, said it was not unexpected that Barclays wants to remove Nigeria from its index.
Another stockbroker, Samuel Olayemi, said: “The issue has been over-flogged. We have been trading in this country in the past years without JPMorgan. Their existence has not made any difference as far as I am concerned.
The index provider had said it would drop Nigeria from its index, citing same lack of liquidity and currency restrictions and coming on the heels of the pronouncement by JP Morgan to delist Nigerian bond from its index.
However, operators have urged the government to take more proactive fiscal measures to restore confidence in the nation’s economy, stressing the need for it to work out modalities that would help to forestall further occurrence.
“I think we should go back to drawing board. All these issues we are talking about have to do with discussion. We need to work out short to medium term framework within which we think we all can get down those hurdles and there will be a win-win situation for every body," a stockbroker with Meristem Securities, Baba Ibrahim, said.
The Managing Director/CEO of Highcap Securities Limited, David Adonri, said it was not unexpected that Barclays wants to remove Nigeria from its index.
Another stockbroker, Samuel Olayemi, said: “The issue has been over-flogged. We have been trading in this country in the past years without JPMorgan. Their existence has not made any difference as far as I am concerned.
