Positive Views on Nigeria’s Monetary Reforms – SBG Securities

The Central Bank of Nigeria (CBN) and the Federal Government’s monetary reforms have been hailed as constructive steps towards restoring economic equilibrium in Nigeria. However, more time will be needed for the expected benefits to materialise in the market, according to SBG Securities, a Standard Bank Group member.

SBG Securities allayed investors’ concerns in a recent investor note by revealing that it had spoken with important Nigerian economy players and that its conversations with corporations indicated that the private sector had positive views about government reforms.

The statement read, “Overall, our interactions with corporates pointed to positive direction in government reforms in terms of addressing the currency liquidity concerns and clearing the FX backlog, citing the regularisation of Open Market Operations (OMO) and the recent CBN disbursement of outstanding forwards to some banks.”

More information to come.