The Nigerian equity market has demonstrated remarkable resilience despite experiencing a major correction that wiped out nearly N10 trillion in value over the course of the month. Heavy profit-taking by short-term investors led to a sharp sell-off, but the downward trend has failed to displace the country from its peak position. According to real-time financial intelligence tracking multiple African bourses, the local exchange continues to outperform its regional peers on the continent.

Data compiled by African Markets indicates that the Nigerian Exchange Limited (NGX) achieved an impressive 59.5 percent return in US dollar terms year-to-date as of late June. This strong performance has successfully extended Nigeria’s lead for a third consecutive week, reflecting a refreshed economic narrative. In the dollar-denominated rankings, Ghana secured the second position with a 57.7 percent return, while Zimbabwe, Rwanda, Tunisia, and Tanzania followed with lower yields.

Even when evaluated in local currency terms, Nigeria remains Africa’s top-performing stock market with a robust 51.1 percent gain, surpassed only by Ghana’s local index. This is not the first instance of dominance this year, as the West African nation previously topped regional performance charts earlier in February before reclaiming its lead during the June trading sessions. Analysts point out that this sustained momentum marks an impressive turnaround for an exchange that previously faced significant pressure from foreign capital flight.

The structural drivers behind this year’s market strength go beyond typical corporate earnings and banking sector reforms. Financial market analysts emphasize that a stabilized domestic currency has acted as the primary catalyst for foreign portfolio investors. Unlike prior equity market rallies that were quickly undermined by exchange rate instability, the current performance benefits heavily from ongoing macroeconomic policy realignments that have boosted overall investor confidence.

The post Nigeria Remains Africa’s Top-Performing Stock Market appeared first on Housing TV Africa.

This follows the conclusion of Mr. Onyebuchi Roberts’ tenure on 30 April 2024, as communicated in the company’s notice to the Nigerian Exchange Limited and investment public.

Mrs. Ojeyokan brings over 15 years of extensive experience in finance, audit, and control roles, particularly within the manufacturing and FMCG sectors. Her impressive track record includes driving financial excellence, strategic growth, innovation, digital transformation, and people development.

Before her appointment at Berger Paints Nigeria Plc, Mrs. Ojeyokan served as the Chief Financial Officer at The Big Bottling Company Ltd in 2023, overseeing Finance, Information Technology, Human Resources, and Procurement functions.

READ ALSO:Berger Paints to pay shareholders N202.88 million dividends in 2022

She has also held the position of Finance Director at Champion Breweries Plc and held various finance and audit roles at Nigerian Breweries Plc, Staples Business Advantage, U.K., and Rentokil Initial U.K.

Mrs. Ojeyokan holds two Bachelor’s Degrees (BSc.) in Accounting from Obafemi Awolowo University, Ile-Ife, and in Applied Accounting from Oxford Brookes University, UK. Additionally, she holds a Master’s Degree (MSc.) in Finance and Investment from the University of Ulster, UK.

READ ALSO: Berger shareholders embrace N202m as dividends

She is a fellow of The Association of Chartered Certified Accountants (ACCA), a member of The Institute of Chartered Accountants Nigeria (ICAN), and a member of the Financial Reporting Council Nigeria.

The post Berger Paints Appoints Ojeyokan as Chief Financial Officer appeared first on Housing TV Africa.