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Forex, reputation issues bane of capital inflow into Nigerian businesses

Forex, reputation issues bane of capital inflow into Nigerian businesses

Business
International investors and stakeholders have attributed businesses’ inability to attract foreign capital needed for growth to Nigeria’s image problem, and challenges in repatriating investments. According to them, while Nigeria should be at the top of the list for investments in Africa, governance issues remain an impediment, making the country look problematic compared to other smaller countries. Of the $5.85billion received in the first quarter (Q1) of 2020, portfolio investment accounted for 73.61% ($4.31billion) of the total capital importation recorded by the National Bureau of Statistics (NBS). Speaking at a webinar on, “Access to international capital and funding solutions for Nigerian businesses”, organised by the Lagos Chamber of Commerce and Industry (LCCI), Monday, Key...