Nigeria seeks Asian portfolio investors

The Nigerian Stock Exchange became a member of the World Federation of Exchanges in October following the introduction of key reforms The stage seemed carefully prepared for it to go out and advertise its attractions to international investors

“In the past few years the Nigerian capital market has undergone a transformation of great proportions,” Oscar Onyema, CEO of the NSE, told FinanceAsia in an interview

“The aim is to raise Asian portfolio investment into Nigeria to a level similar to the flows of Asian direct investment into the country At the moment it is disproportionately low [at 3% of the total foreign portfolio investment],” he said

For example, China Railway Construction inked a $12 billion...