News Formal

Nigerian Stock Market Rises To 15-Year High After Central Bank Governor, Emefiele’s Suspension | Sahara Reporters

  • 📰 SaharaReporters
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 63%

United States News News

United States United States Latest News,United States United States Headlines

The Nigerian Stock Market on Tuesday reportedly leaped to 15-year high as it rose to its highest level since July 2008. This is coming on the first day of trading after the suspension of the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, by President Bola Tinubu. A report by Bloomberg stated that investors are betting on a currency devaluation and this has sent the main index of the Nigerian Exchange to above 57,437 points, which is in contrast with a flat performance for MSCI’s main emerging equity benchmark.

June 13, 2023The Nigerian Stock Market on Tuesday reportedly leaped to 15-year high as it rose to its highest level since July 2008.

A report by Bloomberg stated that investors are betting on a currency devaluation and this has sent the main index of the Nigerian Exchange to above 57,437 points, which is in contrast with a flat performance for MSCI’s main emerging equity benchmark. It was also reported that Tajudeen Ibrahim, head of research at Chapel Hill Denham, stated that “An improvement in the economy will enhance the performance of companies operating in the market.”

It was learnt that the NGX Banking Index has since risen by 8.5 percent to 570.64, its biggest advance in more than eight years.

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:

 /  🏆 9. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market jumps to 15-year high after Emefiele's suspensionThe report stated that this move takes the country’s stocks’ year-to-date gains to 11.8 per cent, almost double the six per cent return on the MSCI index.
Source: MobilePunch - 🏆 8. / 63 Read more »