Nigeria still investors destination - IMF

Despite the economic challenges facing the country, Nigeria still remains an investors destination said the International Monetary Fund (IMF) on Wednesday.

The Senior Financial Sector Expert, Debt and Capital Market Instruments Division, Monetary and Capital Markets Department, IMF, Miriam Tamene, made this known when she paid a visit to the Securities and Exchange Commission’s (SEC) management in Nigeria's capital, Abuja.

Tamene said this when she led a team on a visit to the SEC office in Abuja. She noted that the IMF was pleasantly surprised to receive numerous indications of interests by investors eager to invest in Nigeria.

She, however, said many of them still nursed the fear that they might not be able to retrieve their funds anytime they decide to exit the country.

She urged monetary and regulatory authorities in Nigeria to formulate policies that would bring down the inflation rate in the country as well as increase access to domestic funds.

This, Tamene noted, would ensure that the economy attain further growth in 2018.

At the annual meetings of IMF, we were pleasantly surprised when we saw many investors interested in the Securities Market in Nigeria.

A lot of people thought that Nigeria is still investors’ destination, the main concerns most of them had was the fear that they may not be able to take out their money anytime they want to, hence they are being very watchful.

Investors are interested in Nigeria, but with difficulties they had in getting their money out recently, that confidence is not there yet.

It has improved though, but they are still watching. It is still so much fragile and not what they can take for granted just yet,” she added.