Nigerian stocks rally on scramble for Access Holdings’ shares

Nigerian stocks advanced for the first time this week on Thursday after the main equity index added 0.2 per cent on the back of continued brisk trade in the shares of Access Holdings.

Nigeria’s biggest lender by assets has now traded as many as 2.3 billion shares in the two weeks since 20 April, the day the corporation announced it would pay shareholders 50 per cent more in annual dividends for last year.

The stock has appreciated by 18.9 per cent since then.

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