I’m happy that CBN refused JPMORGAN’s imperialistic pressure which includes making the currency market liquid even at the cost of emptying our forex reserves. I’ve always wondered who in the world appointed JPMORGAN to be indexing bonds around the world?
Why should we accept to be forced into this imperialistic instrument which does nothing but always forcing the exposure of our economy to such endless premature economic financialization which foreign portfolio investors use in their speculative investments that are always based on taking arbitrage advantage of our economy.
For me, the CBN has no other option but to tell JPMORGAN it should go ahead with its announced delisting of Nigeria’s government bonds from its so-called emerging markets bonds index. After all, real economy is never built on speculative investments. I personally commend CBN’s action as patriotic.
In fact, since Nigeria never asked JPMORGAN to list its government’s bonds on its so-called index on emerging markets, why is he then warning us that it will delist Nigeria?
