Foreign investors shun stocks, put more money in treasury bills

Foreign portfolio investors largely stayed away from Nigeria’s equities market during the first seven months of 2026 despite the country’s emergence as the world’s best-performing stock market, preferring instead to invest in short-term government securities offering yields of about 20 per cent.
Their cautious positioning came even as the Nigerian Exchange (NGX) delivered a year-to-date return of about 60 per cent and added about N60 trillion in market capitalisation between the start of January and July 30, 2026, driven by sustained domestic demand, stronger corporate earnings and improved market liquidity.
Market data showed that foreign investors accounted for only N1.160 trillion,...