The NGX Banking Index opened in the red on Monday, June 16, 2025, as investors dumped major bank stocks in reaction to a policy shift announced last week by the Central Bank of Nigeria (CBN).
Although the banking index staged a recovery from its earlier losses of over 7% in pre-market trading, it still ended the day down by 3.98%.
In a circular released Friday, the CBN directed banks currently benefiting from regulatory forbearance to suspend dividend payments, defer bonuses, and halt new investments in foreign subsidiaries.
