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Article: Nigeria : NSE loses N613 billion in.
- Article from:
- TendersInfo
- Article date:
- September 5, 2009
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Byline: babalu03
The month of August was a challenging period for the Nigerian capital market, in terms of the slow pace of activities from every sector quoted on the stock exchange, which was largely a consequence of the global economic downturn resulting in liquidity squeeze.
The Nigerian Stock Exchange (NSE) during the period in review posted a loss of over N613 billion, the third since the year began. It blamed the losses on the huge bad loans granted by banks to investors in the market, pulling stocks value down to an all-time low.
The exchange had, on January and June this year, posted about N2.058 trillion and N872 billion losses, ...