In the latest episode of “Follow the Money with Ugodre,” powered by Nairametrics, we delved into last week’s bustling financial landscape. The All-Share Index (ASI) experienced 1.36% depreciation, alongside a 1.35% drop in market capitalization. Despite this, the stock market still boasted an impressive 31% gain. However, the NGX 30 index took a hit, dropping by 1.46%, with the banking index down by a significant 18%. This pattern underscored the recurring influence of the banking sector on the broader index. We also explored the enticing opportunities presented by the FGN savings bond, which offered up to 17% returns for retail investors.
Looking ahead, we anticipated the release of inflation numbers, as electricity data is expected to be added to June figures. A strong response from the Central Bank of Nigeria (CBN) is expected as they battle inflationary pressures.
Stay informed and stay ahead with “Follow the Money” as we analyze these developments and their implications for investors and the economy. Listen to the full episode on Spotify for deeper insights and analysis.
