Nigerian Market Loses N2.5tn Amid OMO Policy Changes
In August 2026, the Nigerian equities market experienced a significant depreciation of N2.5 trillion, influenced by a revised Open Market Operations (OMO) framework implemented by the Central Bank of Nigeria (CBN). This new policy, announced by Mr. Okey Umeano, the Acting Director of the Financial Markets Department, on August 12, 2026, permits individuals, corporates, and non-bank financial institutions to participate in both primary and secondary OMO markets through Deposit Money Banks (DMBs).
The market capitalization of listed stocks on the Nigerian Exchange Limited (NGX) fell to N155.8266 trillion, a decline of 1.6% from N158.326 trillion at the end of July 2026. However, from August 27 to 28, the market rebounded, gaining N1.67 trillion as Nigeria was confirmed to transition from Unclassified to Frontier Market status by FTSE Russell, effective September 21, 2026.
The NGX All-Share Index stood at 241,298.47 basis points on August 28, 2026, reflecting a 1.6% decline from the month's opening value.
Plus234Feed summary based on reporting from This Day. Read the original report below.
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