Nigerian Market Gains N298bn After CBN Cuts Interest Rate

On September 22, 2026, the Nigerian equities market experienced a significant gain of N298 billion in market capitalization after the Central Bank of Nigeria (CBN) announced a cut in the Monetary Policy Rate (MPR) to 23% from 26.50%. This 350 basis points reduction, revealed during the 307th Monetary Policy Committee meeting, was positively received by investors, leading to an increase in the All-Share Index (ASI) by 457.86 points, or 0.18%, closing at 250,614.66 points.

Market capitalization rose to N162.683 trillion, with a positive market breadth of 36 gainers compared to 26 losers. Sovereign Trust Insurance was the highest gainer at 9.95%, closing at N2.21 per share, while Multiverse Mining & Exploration led the losers with a decline of 9.86%, closing at N19.20 per share.

The total volume traded increased by 45.83% to 837.22 million units, valued at N48.53 billion across 52,054 deals. Imperial Asset Managers Limited indicated that market sentiment is expected to remain positive, particularly after Nigeria's formal reclassification to FTSE Russell Frontier Market status on September 21, 2026.