LAGOS—Nigeria’s financial markets opened November 2025 with sharp losses in both the naira and equities, following remarks by U.S. President Donald Trump who threatened possible military action against Nigeria over alleged religious persecution, according to PUNCH NEWSPAPER reporting.
Naira and Equities Tumble
The immediate downturn followed a weekend of heightened geopolitical tension after President Trump labeled Nigeria a “country of particular concern” and instructed the US Department of War to prepare for “possible action” over what he described as a “Christian genocide.”
Data from the Central Bank of Nigeria showed that the naira depreciated to N1,436.34/$ on Monday, marking a 1.03 per cent decline or N14.61 loss from its 2025 peak of N1,421.73/.Thecurrencyalsoweakenedattheparallelmarketto∗∗N1,455/**.
On the Nigerian Exchange Limited (NGX), bearish trading resumed as the All-Share Index dropped by 0.25 per cent to close at 153,739.11 points, while market capitalisation declined by N245.88 billion. The selloff was driven by losses in stocks like Aradel Holdings (-9.21 per cent) and Access Corporation (-3.07 per cent). Meanwhile, Nigeria’s Eurobonds saw investor appetite weaken, with average yields rising by 5 basis points to 7.70 per cent.
While some analysts, like Tilewa Adebajo of CFG Advisory, called the market reaction a “mere blip” that is “not sustainable,” others, including Dr. Musa Yusuf of the Centre for the Promotion of Private Enterprise, warned that Trump’s statements could seriously undermine investor confidence, noting that “Such remarks send unsettling signals to investors, heighten risk perception, and undermine confidence in Nigeria’s economy.”