Nigeria's programme is in part, one of necessity. It made this commitment under the terms of the Paris Climate Change Agreement.
Investor confidence has been boosted nonetheless, as Nigeria was awarded CBI's best practice distinction in how it managed its #GreenBond issuance.
The first $10mn tranche of Nigeria's #GreenBond programme received a rating of "excellent" from Moody's. The Federal Government promised further tranches to meet a $1trn target, listed on the NSE and FMDQ, an OTC exchange.
It is worth noting that only three countries have issued a sovereign #GreenBond according to the FT. Nigeria joined France, Poland and Fiji as the latest member in what some have called a "silent revolution".
One of the Sustainable Development Goals that Nigeria aspires to is affordable and clean energy. Whilst there are significant strides to be made, the SEC's new rule on #GreenBonds will help to foster investment in a clean future.
Sharing Part II of my thoughts on the Nigerian Sovereign Wealth Fund. I discuss how interlinked the fund is with political reality. For more on the interaction between law and financial markets in Nigeria, please visit @PotteryResearch https://t.co/nnoQcpR8T4
Sharing Part I of my thoughts on the Nigerian Sovereign Wealth Fund. For more articles on law and finance in Nigeria, please visit @PotteryResearch. https://t.co/Da6VShIfDz
In my first LinkedIn Article, I share some of my thoughts on the recent Lehman Brothers Special Financing Inc v National Power Corporation [2018] case heard by Mr Justice Knowles QC, CBE in the Commercial Court, London. https://t.co/wU7bMcM4e9
See what the English courts have to say about closing out derivatives transactions.
Our briefing discusses a recent dispute between the Philippines and Lehman Brothers on a currency swap.
Access here: https://t.co/mMmlLKvqgM
The @NGRSenate passed the Companies and Allied Matters Act, 2018. For Pottery Research, this represents a clear framework for corporate governance and therefore investor protection. For a short guide, see the roadmap published by @OlaniwunAjayiLP. https://t.co/iwq1OzNApG
These informal markets contribute to around 85% of total rural savings and credits in Nigeria. The next policy step is to formalise and integrate them within wider financial markets. Pottery Research believes this will not only foster liquidity, but also bolster market inclusion.
Informal financial markets are indigenous systems of credit and savings. For more on the concept, see p.5 of the @cenbank paper. https://t.co/pxhJVJSPV3
To foster financial markets understanding, Pottery recommends the Central Bank of Nigeria's (@cenbank) publication of an "Understanding Monetary Policy" series. This paper focuses on the informal sector. https://t.co/pxhJVJSPV3
The @cenbank circular addresses the use of mobile phones as tools for enhancing financial inclusion with the rise of mobile payments, m-commerce, m-banking and other settlement systems based on mobile technology. https://t.co/BP4QX3N3uB
#CBN releases circular on the Regulatory Framework for the Use of Unstructured Supplementary Service Data (USSD) in the Nigerian Financial System https://t.co/I7s3flMhFh
3 things that need to be regulated: Exchanges (to prevent price manipulation), derivatives (to prevent unlimited losses) and ICOs (to prevent illegal securities). #Crypto#ICOs#Bitcoin#Ethereum. https://t.co/0eK8dRmCSX
Consistent with regulatory responses across the world, the Nigeria Deposit Insurance Corporation (NDIC) has issued a warning on cryptocurrencies.
You can view the warning here: https://t.co/fL7rSUccTI
The knowledge exchange will be looking at: 1) Liquidity and participation in Nigerian financial markets. 2) Investor protection and 3) Corporate governance.
As the secondary markets in Nigeria are still in their infancy, Pottery Perspective sees a significant opportunity to contribute to its growth through advocacy on market stability mechanisms.