Financial experts task CBN on forex liquidity to sustain stock rally
http://ift.tt/eA8V8J Some financial experts on Sunday called on the Central Bank of Nigeria (CBN) to ensure continuous liquidity in the foreign exchange market to sustained the bullish trend on the Nigerian Stock Exchange (NSE). They told the Newsmen in separate interviews in Lagos that the current rally on the stock market could only be sustained with foreign exchange liquidity. Dr Uche Uwaleke, Head of Banking and Finance Department, Nasarawa State University Keffi, said that enhanced foreign exchange liquidity would sustain foreign portfolio investment confidence in the market. Uwaleke said that the bullish trend was a reflection of the fact that the economy was gradually moving out of recession and should be sustained with friendly policies. He said that the introduction of the investor-exporter foreign exchange window by the apex bank had boosted foreign portfolio investment in Nigeria. “The recent report by Fitch concerning improved liquidity in the forex market, as well as...