Biggest Nigerian Pension Fund Manager Plan to Help the Naira
Biggest Nigerian Pension Fund Manager Plan to Help the Naira Bloomberg 12/23/2020 Emele Onu (Bloomberg) -- Faced with bond yields coming off record lows and a hard-to-trade equity market, Nigeria’s biggest pension-fund manager wants the flexibility to invest directly in large local projects. Financing the development of domestic industries with naira will also ease pressure on the nation’s currency by reducing demand for dollars, said Stanbic IBTC Pension Managers Ltd. Chief Executive Officer Eric Fajemisin. Once up and running, local plants can help cut imports, further...
Source: msn.com