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Nigerian stocks shed 3.3 per cent last week after increased sell pressure from investors during a week in which many released corporate results failed to impress the market. The central bank’s Monetary Policy Committee, on Tuesday, raised the benchmark interest rate by 4 percentage points, a hawkish stance aimed at curbing inflation. But that had weighty impact on the market as investors seeking stronger yields ditched stocks for fixed-income securities offering higher returns. PREMIUM TIMES has assembled some…

Nigerian stocks are getting off to a great start, having returned about 11.1 per cent in just weeks in continuation of the momentum that helped them yield about 46 per cent last year. Negative real yields on Nigerian bonds and treasury bills have made it impossible for them to beat the country’s sticky inflation. That is forcing pension funds and institutional investors to divest investment in fixed-income securities and plough the proceeds into stocks, which are currently experiencing a big boom, helping to…