Banks lead charge as stocks jump to 15-yr high after Emefiele’s exit

Nigeria’s stock market jumped on Tuesday to its highest level since July 2008 as investors interpreted the suspension of Godwin Emefiele as CBN governor as the end of unorthodox monetary policies that have spooked foreign investments.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities Market Capitalisation increased by 3.99 percent or N1.22 trillion on Tuesday from preceding 55,930.97 points and N30.455 trillion respectively to 58,163.59 points and N31.670 trillion.