Nigeria bonds rise after Buhari's victory

Nigeria bonds rise after Buhari's victory

- Nigeria's bonds rose immediately President Muhammadu Buhari won the presidential election

- The bond rose as much as 0.8 cents in the dollar, an extension of more than 10 cents

- Buhari was declared winner of the election on the Wednesday, February 27

Nigeria’s dollar-denominated government bonds rose to 5-7 month highs on Wednesday, February 27, after President Muhammadu Buhari won a second term at the helm of Africa’s largest economy and top oil producer.

The country’s longer-dated bonds were up as much as 0.8 cents in the dollar to extend a more than 10 cents rally since the start of the year.

Recall that Legit.ng earlier reported that few hours to the presidential and National Assembly election, Nigerians were perplexed when the Google search engine ‘showed’ that the Naira suddenly appreciated and is now trading at N184 to a dollar.

The last time the country’s currency traded at N184 naira against the dollar was in 2015 and many people were wondering what was responsible for this new figure being displayed in the evening of Friday, February, 22.

Legit.ng also reported the Independent National Electoral Commission (INEC) officially declared President Muhammadu Buhari of the All Progressives Congress (APC) as the winner of the 2019 presidential election, defeating Atiku Abubakar of the Peoples Democratic Party (PDP) with over three million votes.

On the problem of accredited voters not adding up to number of voters, Yakubu revealed that the problem affected less than 2% of voters and thus did not affect the general conclusion.

NAIJ.com (naija.ng) -> Legit.ng: Same great journalism, upgraded for better service!

2019 Election: Nigerians reveal what Buhari did to them| Legit TV

Source: Legit

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