Stock Market Sheds N196bn over Deferment of Polls Goddy Egene
The Nigerian stock market took a plunge yesterday as some disappointed investors reduced their appetite for equities while others sold to lock in profits due to
apprehension over the delayed elections. The Nigerian Stock Exchange (NSE) All-Share Index, which gained 3.7 per cent last week, fell by 1.61 per cent yesterday to close at 32,190.07, down from a
year’s high of 32,715.20. Also, market capitalisation shed N196 billion to close lower at N12.004 trillion, down from N12.2trillion. Similarly, the naira weakened on the forward market yesterday as the
one-year non-deliverable naira forward opened at a quote of $401, compared with $397 in the previous session. Investors had started to pick up shares to position for a post-election rally,
assuming that the election would pass without violence or other problems. The development lifted the market to new high last week, gaining over N700 billion. However, the postponement of the election
came as a shock and is making investors to review their investment strategy. According to a senior economist at Exotix Capital, Mr. Christopher Dielmann, Continued on page 6
Oil Price Rises Above $66 on OPEC Deal, US Sanctions … Page 8 Tuesday 19 February, 2019 Vol 24. No 8717. Price: N250
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Rig Election at Expense of Your Life, Buhari Warns Orders security agents to be ruthless with miscreants Vows to investigate postponement PDP, Atiku: President’s directive is licence to kill Dickson calls for emergency Council of State meeting
Iyobosa Uwugiaren, Onyebuchi Ezigbo, Adedayo Akinwale in Abuja and Emmanuel Addeh in Yenagoa President Muhammadu Buhari yesterday threatened that anyone planning to snatch ballot boxes in Saturday’s presidential and National
Assembly election will be doing so at the ‘’expense of his own life,’’ and directed security agents to be ruthless with miscreants. The president, who barely subdued his anger at the shift in casting of ballot from last Saturday, spoke at the opening of the National Continued on page 8
INEC Concedes to Political Parties, Allows Electioneering Insists Saturday’s polls sacrosanct
Adedayo Akinwale and Ogheneuvede Ohwovoriole in Abuja Following stiff opposition from political parties to the decision of the Independent National
Electoral Commission (INEC) to ban political campaigns before next Saturday’s rescheduled poll, the commission yesterday reversed itself and allowed electioneering. Continued on page 6
Bandits Kill Army Captain, 11 RESTRATEGISING… Vice President Yemi Osinbajo SAN; National Leader, All Progressives Congress, Senator Bola Tinubu; and Governor of Civilians in Katsina, Niger ... Page 6 L-R: Zamfara State, Alhaji Abdulazeez Yari, during the National Caucus meeting of the APC in Abuja…yesterday