Wealth managers speaking in London two weeks ago at the Euromoney Conference on Nigeria jointly sponsored by African Alliance, an equity investment company, predicted that the capitalization of the Nigerian Stock Exchange–which currently sits between $60 billion and $70 billion–will quickly rise to $100 billion once the current global financial crisis subsides.  Said investors, citing the strength of the local currency, are also encouraging the country’s federal government to introduce a global dollar bond to the international financial market, which would enable Nigeria to fund infrastructure projects, among other opportunities.  BusinessDay reported that “investors appeared buoyed by the belief that the domestic currency will continue to be strong in spite of the continuous decline in global oil prices.  Francis Beddington, head of research at Insparo Asset Management, said: ‘The naira is not likely to be down, even if the price of oil stays at $30-$40 for a long time, which I expect it to do.'”

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