Nigerian Banking Index Surges 8.76% as Investors Cheer Emefiele’s Ouster

Nigerian Banks led the gainers charts in today’s trading with bellwether bank stock Guaranty Trust Holding Company (GTCO), surging limit up 10% to N30.80 per share (a new 52 week high), as investors cheered the ouster of the former Central Bank Governor Godwin Emefiele.

Access Holdings surged 10% to N14.30 a share, Zenith Bank increased 10% to N30.80 a share, United Bank for Africa rose 9.55% to N10.90, while FBH Holdings rose 2.84% to N14.50.

Ecobank Transnational International or ETI increased 9.92% to N13.85 per share, while Jaiz Bank, Unity Bank and Sterling Bank rose by 9.77%, 9.72% and 9.65% respectively.

The Banking Index surged 8.76% to lead all sectors, outperforming the wider all share index, which increased by 3.99%.

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