The earlier rally in banking stocks is losing momentum as investors price in potential risks from delays in the release of banks’ half-year (H1) audited statements currently under the Central Bank of Nigeria (CBN) review.
NGX Banking Index dipped the most in August by 5.09 percent, followed by NGX Oil & Gas, which was down by 3.95 percent. The NGX Insurance Index rallied most by 44.30 percent in the review month, followed by NGX Consumer Goods Index (+8.91percent), and NGX Industrial (+1.83 percent).
The delay in getting regulatory ap
