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Nigeria’s return to JP Morgan’s Index imminent as NAFEX attracts $45bn in 1yr
The readimission of Nigeria into the J.P Morgan Government Bond Index-Emerging Market (GBI-EM) is imminent following the successful operation of the Investors and Exporters (I&E) window for one year with turnover of $45 billion.According to J.P Morgan, Nigeria would be eligible for re-inclusion if it could establish that it had upheld the inclusion criteria for at least 12 months. This means the authorities must restore liquidity to the forex market in a way that allowed foreign investors tracking the index to conduct transactions with minimum hurdle.Read More…]