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.
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