Foreign investors dump Nigerian stocks worth N46bn in January

Foreign investors sold Nigerian stocks valued at N45.85 billion last month, compared to a withdrawal of N40.49 billion in December, according to official data.

The Nigerian Exchange Limited (NGX) saw an inflow of N25.66 billion from overseas investors, down from N26.26 billion in the previous month.

Total transactions at the nation’s bourse decreased by 9.89 percent to N607.05 billion ($410.84 million) in January from N673.66 billion ($438.64 million) in December.

The value of transactions executed by domestic investors outperformed those of foreign investors by about 76 percent.

“Total domestic transactions decreased by 11.71 percent from N606.91 billion in December to N535.54 billion in January. However, total foreign transactions increased by 7.13 percent from N66.75 billion (about $43.47 million) to N71.51 billion (about $48.38 million) between December and January,” the NGX said.