Nigeria's debt market cap hits 19 trln naira -FMDQ boss

The total market capitalization of Nigeria's outstanding debt stood at 19 trillion naira, the chief executive of the FMDQ OTC Securities Exchange, Bola Onadele Koko has said.
Onadele, who spoke on Channels Television Business Morning on Tuesdy, noted that the outstanding debt consists of government, central bank instruments and corporate debt issuances.
FMDQ, a self regulatory platform for fixed income, derivatives and foreign exchange trading handles the central bank of Nigeria's investor and exporter foreign exchange window.
However, he said the debt size of Nigeria is two small comparing with its GDP, "it is less than 20 percent Of the country's GDP.." Onadele said.
He said the window has attracted around $12 billion since it was introduced by the CBN in April this year.
He however, want the CBN to reduce its participation in the market to below 30 percent to enable the autonomous sources take charge.

He said the market has the capacity to attract more inflow into the market, but want the CBN to roll back and allow the autonomous market to take charge of the market.
He also call for a dual foreign market to improve foreign investors confidence in the nation's economy.