Godwin Emefiele, the Governor of the Central Bank of Nigeria (CBN), has dismissed media reports that JP Morgan delisted Nigeria from its bond index.<\/p>\n
Emefiele said this after presenting and analysing the Monetary Policy Committee\u2019s communique on Tuesday in Abuja.<\/p>\n
He said Nigeria is still in the index, adding that the country was only reclassified from overweight to market weight.<\/p>\n
JP Morgan\u2019s Emerging Markets Bond Overweight and Underweight are used to make recommendations on stocks to buy or avoid.<\/p>\n
\u201cLet me say that contrary to widespread media reports that we were delisted or that we were removed from the JPMorgan bond index; and the truth is that, that is very untrue. Nigeria is still in their index.<\/p>\n
\u201cWe were only reclassified, Nigeria\u2019s rating, I will say was reclassified from overweight to market weight, which is just a mere reclassification of our size in the index.<\/p>\n
\u201cSo, let me say and I repeat, Nigeria has not been delisted from any JP Morgan bond index.<\/p>\n
\u201cWe have the report here, page 10 of it; I won\u2019t bore you with it. You can go online and read it. Page 10 was specifically devoted to Nigeria. And it was very, very clear the reason why Nigeria\u2019s rating was moved from overweight to just market weight,\u201d Emefiele said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Godwin Emefiele, the Governor of the Central Bank of Nigeria (CBN), has dismissed media reports that JP Morgan delisted Nigeria from its bond index. Emefiele said this after presenting and analysing the Monetary Policy Committee\u2019s communique on Tuesday in Abuja. He said Nigeria is still in the index, adding that the country was only reclassified […]<\/p>\n","protected":false},"author":13,"featured_media":190653,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[2],"tags":[658,2777,18653,38493],"class_list":["post-190652","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-cbn","tag-delist","tag-emefiele","tag-jp-morgans-bond-index"],"yoast_head":"\n