Nigerian Stocks Plummet, Wipe Out ₦2.8 Trillion Amid Investor Panic and Geopolitical Tensions

The Nigerian stock market extended its losing streak, wiping out ₦2.8 trillion in market value. The decline was attributed to investor panic over the proposed 25% capital gains tax set to take effect in January 2026 and geopolitical tensions following threats of military action by U.S.

President Donald Trump against Nigeria. Stocks like NCR and McNichol gained, while Berger and Cileas were among the top losers.

Wema Bank and Conhall PLC recorded high trade volumes. Market activity slowed with 527 million shares traded.