Analysts are sounding the alarm that the "hot money" which flooded Nigeria to capitalise on high interest rates may soon seek the exits window now provided by excessive naira gains.
While the Naira has shown remarkable resilience—trading at approximately N1,338.11 in the official market and bolstered by external reserves that have surged to a three-year high of $48.5 billion—this very strength is beginning to force foreign portfolio investors to rethink strategy.
For many foreign portfolio investors (FPIs), a rapidly appreciating currency
