Nigeria equities market defies Emefiele’s reappointment, down by N20bn - Premium Times Nigeria

Investors on the Nigerian Stock Exchange on Friday reacted negatively to the reappointment of Godwin Emefiele for second term as the Central Bank of Nigeria’s governor by President Muhammadu Buhari.

In the same vein, the All-Share Index lost 48.44 points or 0.17 per cent to close at 28,847.81 against 28,896.25 recorded on Thursday. He said fixed income segment witnessed bullish trading due to the positive news of the governor’s reappointment. Mr Omordion said Mr Emefiele’s monetary policy supported the economy, despite the deficit position of the government all these years.

UACN also appreciated by 20k to close at N6.95, while NEM Insurance gained 18k to close at N2.50 per share. Eterna was down by 29k to close at N3.90, while Mansard Insurance declined by 14k to close at N1.81 per share.

Down by N20b means those are fake investors looking for short term quick gain. Long term investors don't care who they appoint as CBN director.

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