Share on LinkedInShare on LinkedIn

ARTICLE · 01 MAY 2024

Market Intelligence Thought Leadership Award Winner

Regualtory Update - March 12, 2024

Stren and Blan Partners
Explore more from Stren and Blan Partners

In February 2024, the Nigerian equities market faced volatility, resulting in a N1.3 trillion loss for investors.

NigeriaFinance and Banking
Stren & Blan Partners
Stren & Blan Partners

In February 2024, the Nigerian equities market faced volatility, resulting in a N1.3 trillion loss for investors. The NGX All Share Index depreciated by 2.4%, breaking a four-month growth streak. The market capitalization dropped from N55.357 trillion to N54.035 trillion. Intensified selloffs followed the Monetary Policy Committee's announcement of a record-high Monetary Policy Rate of 22.75%. Key contributors to the 3.3% Week-on-week decrease in ASI were declines in MTN Nigeria and BUA Cement. Sectoral performance was broadly negative, with losses in Industrial Goods, Insurance, Consumer Goods, Oil and Gas, and Banking sectors. The market's decline was attributed to profit-taking, selloffs, and reactions to the central bank's hawkish stance.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Digital Lending Regulations In Nigeria: What Every Loan App Must Know After The FCCPC Court Victory

The Federal High Court's recent affirmation of the FCCPC's regulatory authority over digital lending marks a pivotal moment for Nigeria's loan app industry. With enforcement of the DEON Regulations now fully resumed, digital lenders face renewed scrutiny over registration, transparency, data privacy, and debt recovery practices. Understanding these compliance requirements is no longer optional—it's essential for survival in Nigeria's evolving fintech landscape.
NigeriaFinance and Banking
Olisa Agbakoba Legal (OAL)
Olisa Agbakoba Legal (OAL)
Article

CBN’S Data Localisation Directive – Compliance Considerations For Payment System Participants

Nigeria's Central Bank has introduced sweeping data localisation requirements that will fundamentally reshape how payment service providers, banks, and financial institutions handle transaction data. With a January 2027 compliance deadline, these new rules mandate that all payment transaction data generated within Nigeria must be stored and managed locally, raising critical questions about cloud infrastructure, vendor relationships, and operational readiness. This analysis examines the scope of the requirem
NigeriaFinance and Banking
Pavestones
Pavestones
Article

Nigeria’s SEC Tightens The Rules For Fund And Portfolio Managers: What Capital Market Operators Need To Know

The Nigerian Securities and Exchange Commission has introduced significant amendments to its Rules and Regulations governing Fund/Portfolio Management Operations, with far-reaching implications for how fund and portfolio managers conduct their business. These changes place heightened emphasis on investor protection, conflicts management, custody arrangements, and cross-border investments, requiring Capital Market Operators to fundamentally review their investment practices, client documentation, and governa
NigeriaFinance and Banking
Syntegral Legal Practice
Syntegral Legal Practice
Article

2026 Fiscal Policy Measures: Tariff Review, Excise Adjustments, And Trade Policy Updates

The Federal Government of Nigeria has introduced sweeping changes to the country's import tariff structure and excise regime through the 2026 Fiscal Policy Measures, effective from April and July 2026. These reforms, implemented under Nigeria's commitments to the ECOWAS Common External Tariff and the African Continental Free Trade Area, include a revised schedule of 127 tariff lines affecting food products, industrial inputs, and capital equipment, alongside new excise duties and green tax surcharges design
NigeriaInternational Law
Stren and Blan Partners
Stren and Blan Partners
Article

Nigeria’s New Virtual Asset (VA) Tax Regime: Legal And Regulatory Implications For Startups

Nigeria's Revenue Service has issued comprehensive guidelines clarifying how virtual assets are taxed under existing legislation. The framework addresses taxation for individuals and businesses engaged in cryptocurrency trading, virtual asset service providers, and peer-to-peer marketplaces. A notable feature is the requirement to compute gains in US dollars rather than Naira.
NigeriaTax
Stren and Blan Partners
Stren and Blan Partners