Nigeria Stock Exchange have been posting positive trend since the suspension of ex-CBN boss Godwin Emefiele and the floating of Nigeria’s currency – the Naira, against other currencies.
The banking sector led the bulls by gaining 12.59% over the previous week or N544.807 billion in share value.
The sector could also be reacting to new technocrats recently announced in President Bola Tinubu’s team of advisers.
Emefiele has been accused that he ran a restrictive foreign exchange policy that favoured a few highly connected persons in the government of immediate past President Buhari also of the APC party and a slew of other allegations of sleaze.
Overall the Nigerian NGX All-Share Index and Market Capitalization appreciated by 5.49% to close the week at 59,000.96 and N32.126 trillion respectively – a record high.
Zenith Bank Plc, Access Holdings Plc, FBNH Plc, UBA Plc, GTCO Plc, Stanbic IBTC Holdings Plc, and ETI Plc were among the top gainers for the week in the banking sector.
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