Stocks of Nigeria’s listed equities garnered N1.22trillion on Tuesday June 13, the first trading day after the suspension of Central Bank of Nigeria (CBN) Governor, Godwin Emefiele.
Emefiele was suspended last Friday sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy.
On the first trading day after his suspension, stock investors viewed the development in a positive light, raising bets across banking and other value counters on the Nigerian Bourse.
As a result, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities Market Capitalisation increased by 3.99percent on Tuesday from preceding day’s 55,930.97 points and N30.455 trillion respectively to 58,163.59 points and N31.670 trillion.
The market’s positive return year-to-date (YtD) increased to +13.49 percent.
In 10,369 deals, investors exchanged 1,186,493,589 shares valued at N19.225billion. Stocks like UBA, GTCO, Zenith Bank, Japaul Gold and Access Corporation were actively traded.
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Iheanyi Nwachukwu
Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos.
Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).
Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.
