Since January 1, 2023, the stock market value of the 12 banks with the largest stock market value on the Nigeria Stock Exchange has increased by an amount equivalent to $745 million according to market data published on May 10.

Banks whose stock values were quite low compared to other sectors and banks in other countries benefit from a favourable interest income environment and a currency exchange market that has improved slightly. The first is the continuation by the Central Bank of its policy aimed at countering the rise in prices in the country by increasing its key rates. The institution responsible for issuing and controlling the currency considered that it was necessary to strengthen or maintain its main policy rates at a high level, based on the significant continuation of price increases of more than 18% last March. For banks such as Zenith, Access Bank, Stanbic Bank Nigeria and United Bank for Africa, it is noted that while outstanding loans and investments in securities were generally down on their balance sheets, net profits in the first three months of the year increased significantly, against a background of rising interest