Barclays has confirmed that it is consulting with its index users as to whether Nigeria's sovereign debt should remain in its emerging market local currency government bond benchmark. This follows a move by JPMorgan in September when it said it would ?drop Nigeria from its index, due to a lack of liquidity and currency restrictions. This is yet ?another worrying blow for Nigeria, which is already struggling from a huge drop in oil prices since mid-2014, since oil accounts for 1.2 percent of its government revenues, along with increased tensions from Islamic militants, Boko Haram.
Barclays has confirmed that it is consulting with its index users as to whether Nigeria's sovereign debt should remain in its emerging market local currency government bond benchmark. This follows a move by JPMorgan in September when it said it would ?drop Nigeria from its index, due to a lack of liquidity and currency restrictions. This is yet ?another worrying blow for Nigeria, which is already struggling from a huge drop in oil prices since mid-2014, since oil accounts for around 80% of its government revenues, along with increased tensions from Islamic militants, Boko Haram.