Investors are watching to see how the CBN and the government handle the Stanbic IBTC issue because it will say a lot about the independence of regulatory bodies in Nigeria which has been moot since the independence of CBN became relatively uncertain under the new administration.
Nigeria is struggling to pass the 2016 budget. The budget has caused a lot of wrangling and finger pointing between law makers, the bureaucracy and the presidency. The fiscal stimulus that everyone is waiting for is no where to be found. The general view from both sides of the political spectrum has been that the budget is froth with errors.