Some capital market operators on Monday urged the Federal Government to create a foreign exchange window for foreign investors to deepen activities at the Nigerian Stock Exchange (NSE).
They told the News Agency of Nigeria (NAN) in Lagos that foreign exchange challenges had affected transactions by foreign investors in the capital market.
Mallam Garba Kurfi, the Managing Director, APT Securities and Funds Ltd., Lagos said the called was necessary because of the Federal Government stance on naira devaluation.
Kurfi also said that many manufacturing companies were finding it difficult to import raw materials for production.
Mr Ambrose Omordion, the Chief Operating Officer, InvestData Ltd., Lagos said the delay in the passage of the 2016 budget had also contributed to the downward trend in the capital market and the economy in general.
Omordion appealed that the issues impeding Presidential assent to the 2016 budget be resolved immediately by the National Assembly in the national interest.
Omordion attributed gains recorded by the market last week to impressive first quarter unaudited results announced by some quoted companies. (NAN)
•Photo shows NSE Trading Floor
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