According to data from the Nigerian Stock Exchange, Foreign investors pulled out a total of N523.42bn from the nation’s stock market last year, while they injected N419.13bn into it.
The stock market has seen more investors dump their shares in recent weeks on the back of the sharp drop in oil prices caused by the spread of Coronavirus.
The market capitalisation of equities listed on the NSE dropped by N1.84tn to N11.85tn last Friday from N13.69tn the previous week.
Foreign portfolio investors withdrew N46.50bn from the stock market in January, up from N41.45bn in December 2019.
The foreign investors withdrew N642.65bn from the market in 2018, compared to an inflow of N576.45bn.
According to the NSE, total transactions at the nation’s bourse decreased by 25.84 per cent from N172.52bn in November 2019 to N127.94bn in December.