In this week's episode of "Follow the Money," Ugodre provides a comprehensive overview of the latest financial market trends. He analyzes the NGX all-share index, which experienced a notable 3.37% drop, signaling a bearish run particularly evident on Wednesday. The increase in interest rates by the Central Bank of Nigeria (CBN) is speculated to be a contributing factor, prompting investors to shift their focus towards fixed-income securities in anticipation of potentially higher yields.
Additionally, Ugodre discusses the upcoming listing of Transcorp Power as a standalone entity on the NGX, offering fresh opportunities for investors seeking diversification. However, amidst these developments, MTN's recent financial report reveals a significant pre-tax loss of 177.8 billion Naira, largely attributed to a substantial foreign exchange loan of 740 billion Naira.
For more valuable insights and analysis, don't miss this week's episode of "Follow the Money."
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