The Presidential Aspirant and Candidate of the Peoples Democratic Party, PDP, Atiku Abubakar has reacted to CBN's reports of two top global banks, HSBC and UBS shutting down operations in Nigeria.
CBN's confirmed, on Friday, that HSBC and UBS Nigeria had closed their representative offices and shutdown operations.
Although reasons for the closures have not been provided, the development follows news that foreign direct investment (FDI) into Nigeria has fallen from a year ago.
FDI into Nigeria totalled 379.84 billion naira ($1.2 billion) in the first half of 2018 compared with 532.63 billion naira ($1.7 billion) a year earlier.
Abubakar, in a post on his social media page, wrote;
“Always a sad day for our country when such entities pack up. FDI is a key component to economic growth."
Continuing, he said, "My administration will attract more FDI by making the CBN stronger and independent, banish multiple exchange rates and promote market-led economy.”
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