Nigeria: NSE Gains 1.7 Percent After Amcon Bill Gets Presidential Assent

The basic indicators of the Nigerian Stock Exchange (NSE) inched relatively better than past few weeks of topsy-turvy movement last week, in what some link to the Presidential Assent, on Tuesday, of the harmonized Bill to establish the Asset Management Corporation of Nigeria (AMCON), expected to sock the about N1.7 trillion worth of bad loans in the books of the nation banks.

A look at the daily movement of the NSE indicators showed that after sliding at the close of Monday's session, the index rose on Tuesday, and as if to signal that this was not a coincidence, the benchmark index rose for the other three days.

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