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Nigeria Stock Market Lost N1.732Tn Under President Buhari

by PH May 31, 2016, 8:15 am

The Nigerian stock market crashed by N1.732tn within one year of the Muhammadu Buhari-led Federal Government.

According to Punch, The Nigerian Stock Exchange data showed that the NSE market capitalisation on May 28, 2015 was N11.658tn, while that of May 27, 2016 was N9.926tn.

The NSE All-Share Index also crashed to 28,902.25 basis points from 34,310.37 basis points.

Investors in the country’s capital market (equity category) lost over N1.053tn in the first quarter of 2016.

But the President, Nigerian Stock Exchange, Mr Aigboje Aig-Imoukhuede, has said the capital market must facilitate capital raising for economic growth as well as mobilise savings for investment, Naij reported.

Aigboje, described the Nigerian financial market as a ‘high-risked’ market, saying the situation was capable of attracting limited investors who could ultimately stop at nothing to maximise returns.