By Onyeanya Ebere Immaculata
Nigeria’s financial markets opened November on a negative note as the naira and equities declined sharply following U.S. President Donald Trump’s threat of possible military action against Nigeria over alleged religious persecution.
Data from the Central Bank showed the naira fell to ₦1,436.34/$ from ₦1,421.73/$,a ₦14.61 drop in one day, while it traded at ₦1,455/$ in the parallel market amid rising investor anxiety.
At the Nigerian Exchange, the All-Share Index shed 0.25% to close at 153,739.11 points, wiping off ₦245.88 billion in market value.
Aradel Holdings and Access Corporation led losers, while Union Dicon gained 9.93%.
Analysts linked the selloff to Trump’s weekend post labelling Nigeria a “country of particular concern,” saying the remarks rattled investors.
Bond yields also rose slightly amid weaker demand for Nigerian assets.
Experts warned that prolonged diplomatic tension could hurt investor confidence unless swiftly addressed through dialogue and policy reassurance.
