Renewed Hope Global commends Tinubu’s govt, as JP Morgan returns to Nigeria
BY STEPHEN GBADAMOSI
A pro-Bola Tinubu group, the Renewed Hope Global, has commended President Bola Ahmed Tinubu and his administration over the return of global financial services firm, JP Morgan, to Nigeria.
According to a statement by the Senior Special Assistant (Publicity) to Renewed Hope Global, Honourable Victor Okebunmi, on Tuesday, JP Morgan absence had spanned a decade.
“Renewed Hope Global has commended the administration of President Bola Ahmed Tinubu, GCFR, following JP Morgan’s inclusion of Nigeria in its newly-introduced Government Bond Index-Emerging Markets Edge (GBI-EM Edge), with Nigerian local-currency government bonds assigned a 7.4 per cent weighting.
“The development comes more than a decade after Nigeria’s naira-denominated government bonds were removed from JP Morgan’s emerging-market government bond index in 2015,” Okebunmi said.
Renewed Hope Global said the return signaled growing international recognition of the economic reforms under the Tinubu-led administration.
“Global chairman of Renewed Hope Global, Ambassador Joseph K. Adebola, described the development as an encouraging vote of confidence in Nigeria’s economic direction.
“JP Morgan’s inclusion of Nigeria with a 7.4 per cent weighting is an important development for our financial markets. It shows that international investors are taking notice of the reforms underway.
“We must sustain this momentum and continue building confidence in the Nigerian economy,” he added.
Renewed Hope Global then congratulated President Tinubu, the Federal Ministry of Finance, the Central Bank of Nigeria and other institutions involved in strengthening the country’s financial system.
