Nigerian Stock Market Declines After CBN Meeting

The Nigerian stock market failed to sustain a brief recovery following the Central Bank of Nigeria's Monetary Policy Committee meeting. The benchmark share index, ASI, fell by 0.49% in intraday trade.

The market closed lower, with a decline of N444.32 billion, totaling N91.00 trillion year-to-date. Ayodele Akinwunmi, Chief Economist at United Capital Plc, welcomed the CBN's decision.

NGX Group dismissed media reports and confirmed exploration of regional expansion in East Africa. Total trade volume was 738.35 million shares worth N35.54 billion in 19,919 deals.