
The Nigerian Exchange Limited (NGX)has said that foreign investors have withdrew N1.64 trillion from the market in three years on account of its worsening insecurity.
The Exchange said,N642.65 billion in foreign portfolio investment outflow was recorded in 2018, while foreign investors withdrew N523.42 billion and N481.93 billion during the corresponding period in 2019 and 2020.
It added that foreign investors withdrew N30.79 billion in January, N39.05 billion in February and N20.28 billion in March 2021, while domestic investors removed N86.35 billion in January, N69.28 billion in February and N93.31 billion during the same period.
Foreign inflow within the same period in 2018, 2019 and 2020 stood at N576.45 billion, N419.13 billion and N247.27 billion, totalling N1.24 trillion.
Stakeholders said the huge outflow of capital has led to concerns about impact on the economy, as operators predict the dangerous state of the stock market could worsen if factors impeding the nation’s economic growth were not tackled soon.
Meanwhile,Nigerian women under the Nigeria Women Elders Council (NWEC), have implored President Muhammadu Buhari to urgently address the nation on the worsening spate of insecurity therein.
They also gave the federal government two months ultimatum to convene national security conference to address the security challenges.
The women further said that if their demands are not met, they will mobilize women across the country to embark on fasting and prayers to seek the face of God .
Co-convener of the conference and former Commissioner of Works in Anambra state, Chika Ibeleme,who addressed newsmen in Abuja, said women would no longer keep quiet in the face of reckless killings in the country.
She said: “The Nigeria Women Elders Council calls on the government to convene a national conference where Nigerians from all walks of life and the different sections can have the opportunity to ventilate their grievances or express their views on the situation in the country.
“The conference will also afford the government the opportunity to bring every section together towards a lasting solution to the myriad problems confronting the nation.
“We hereby put the federal government on notice that after two months of this call for a national conference, if nothing is done, Nigeria Women Elders Council will commence a two-week fasting and prayers to seek divine intervention and guidance for further action.
“If the government remains adamant, Nigeria Women Elders Council will lead Nigerians in a sit-at-home action until the Nigerian government and the political class convene a national conference and agree on workable solutions to the numerous challenges bedeviling the country.”
The President of the Council, Mrs. Felicia Sani, who also spoke at the event, charged Nigerians to speak up on the state of affairs in the land.
She noted that the insecurity ravaging the nation has affected every tribe and religion, one way or the other, adding that something should be done to keep the nation safe.
Meanwhile,President Muhammadu Buhari has approved new security measures specifically for the South East and South South geo-political zones of the country.
Besides, he said decision has been taken not to publicised measures to be deployed to tackle insecurity in the country henceforth for a more effective result.
The acting Inspector General of Police, Usman Baba, who briefed alongside the National Security Adviser (NSA), Major General Babagana Monguno (retd), Chief of Defence Staff, Gen. Lucky Irabor, said President Muhammadu gave the approval during the security meeting he presided over at the presidential villa, Abuja on Tuesday.
Monguno said the meeting stressed the need to address the security challenges in the country particularly those that have arisen in the last few months.
He said President have matching orders to deal with the emerging problems physically.