Sectors: Economy

Nigeria: Investors ditching banks for fixed-income securities

Savvy investors are pulling their deposits out of banks, where interest rates are in the single digits, and placing them in the securities market for higher returns. The securities market has been boosted by rising issuances of treasury bills and bonds by the government. The trend has led to a dip in banks’ deposits and less credit being made available to small businesses, writes Michael Nkwor.