- Foreign investors are reacting positively to Emefiele’s suspension by snapping Nigeria’s bonds
- The bonds traded to their 5-month high, leading to an increase of 3 cents
- Analysts say Emefiele’s suspension is responsible for the rejuvenated interest in Nigeria’s debts by foreign investors
Investors are snapping up Nigeria’s bonds priced in the US dollar. The bonds traded to their highest this year on Monday, June 12, 2023, as the market reacted positively to the suspension of the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.
The apex bank’s helmsman’s ouster was deemed a departure from various policies that have kept foreign investors away from Nigeria.
