{
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Barclays recommends investors shift focus from Nigeria’s longer-term dollar bonds to the 8-10 year maturities, citing better yields and relative value compared to other emerging markets. Analysts noted a flattening Z-spread between the 2049 and 2033 bonds, indicating a potential opportunity for profit through a rolldown strategy as yields decline. Despite global market stress, Nigeria's bond market shows resilience, with a significant decline in yield premiums over US Treasuries following recent reforms.
Nigeria's SEC has warned that some applicants for virtual asset service provider licenses do not meet regulatory requirements and will face rejection. Director-General Emotimi Agama emphasized the importance of monitoring and education in the registration process, while also welcoming stakeholder feedback for potential rule amendments. With recent leadership changes, the SEC aims to enhance regulation in Nigeria's significant crypto market.
Nigerian security forces reportedly used excessive force during protests against soaring living costs, with evidence indicating they were "shooting to kill," according to Amnesty International. Demonstrators, expressing their frustrations over high inflation and economic reforms by President Bola Tinubu, marched through various cities from August 1-10, chanting "we are hungry." The protests were fueled by a significant rise in food prices and the naira's devaluation following the removal of fuel subsidies and changes to foreign-exchange controls.
Prime Minister Narendra Modi arrived in Rio de Janeiro, Brazil, on November 18 for the G20 Summit, engaging with global leaders on economic and geopolitical issues. Following a successful visit to Nigeria, he will head to Guyana from November 19 to 21, marking the first visit by an Indian prime minister in over 50 years.
Bola Ahmed Tinubu
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Barclays Advises Investors to Focus on Nigeria's Shorter-Dated Bonds
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