CLAIM: A trending video has shown where President-Elect, Bola Tinubu claimed that the Nigerian Stock Market reacted positively to the result of the Presidential Election. Bola Tinubu stated this when he visited President Muhammadu Buhari in Katsina alongside some state governors.
VERDICT: FALSE
At about 4:30 am on Wednesday, March 1, 2023, the Independent National Electoral Commission (INEC) declared the former Governor of Lagos State as the winner of the presidential election held on Saturday, February 25, 2023.
A check by The News Chronicle shows that the first trading session of this month, that is March 1st, recorded a negative performance. This is opposed to the upward trajectory the Nigeria Exchange Limited had recorded in five previous consecutive trading sessions.
At the close of business on March 1st, the All-Share Index (ASI) was weakened by 297.65 points to 55,508.61 points from 55,806.26 points, while the market capitalisation went down by N162 billion to N30.239 trillion from N30.401 trillion.
