Stock market responds positively to new FX policy

  • 📰 vanguardngrnews
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 75%

Business News News

Business Business Latest News,Business Business Headlines

A Nigerian newspaper and Online version of the Vanguard, a daily publication in Nigeria covering Nigeria news, Niger delta, general national news, politics, business, energy, sports, entertainment, fashion,lifestyle human interest stories, etc

The Nigerian stock market displayed a positive performance on a Week-on-Week, W/W basis, on the heels of the removal of foreign exchange , FX restrictions on 43 consumer goods by the Central Bank of Nigeria, CBN.

On Thursday, the CBN lifted the embargo it placed on 43 items disqualified from accessing forex from its official window before now, even while the problem of supply in the FX market and backlogs of unmet demands are yet to be addressed. Strong demand in Dangote Sugar gaining 4.66%, NASCON 4.96% and some Tier-1 banks namely Access Corporation 0.63% and UBA 0.29% gains sustained the market’s bull run.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in BUSİNESS

Business Business Latest News, Business Business Headlines