Global investment banking giant J.P. Morgan has decided to return Federal Government of Nigeria bonds to its bond index. This move is expected to attract fresh foreign capital into the domestic debt market. A total of $17.47bn FGN debt is eligible, with Nigeria getting a 7.4% weighting. The decision is likely to boost demand for government securities and deepen liquidity in the bond market.
The index, known as the Government Bond Index-Emerging Markets Edge, tracks local-currency government debt. It is managed by J.P. Morgan, a widely followed emerging-market bond index provider.
Further details on the impact of this decision are available from the source.
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