Emiefele’s ousts spike Nigeria banking stocks index jump to more than 20-year high

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ABUJA, June 14 – Nigeria’s banking index surged 23% to a more than 20-year high on Wednesday, as investors snapped up financial firms for the second day following last week’s suspension of central bank governor Godwin Emefiele, who oversaw restrictive policies.

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Nigeria’s top 10 banking index (.NGSEBNK10) jumped 134.8 points to 706.86 points by 1008 GMT to lift the All-share index (.NGSEINDEX) up 1.86%.

Sterling Bank (STERLINGNG.LG) gained the maximum 10% allowed on the bourse. UBA (UBA.LG) and Access Corporation (ACCESSCORP.LG) climbed more than 9%.

Godwin Okafor
Godwin Okaforhttps://naija247news.com
Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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