Nigeria: Net portfolio flows into equity remain negative in September

Foreign investors shy away from market because of Nigeria's external vulnerability and FX shortages

In May, CBN abandoned interbank FX rate and made NAFEX new official FX rate, resulting in 8% devaluation

In Jan-Sep, net flow into equity was NGN 16bn outflow compared to NGN 160bn outflow a year earlier

Local funds have turned to debt market due to rising yields on FGN no