Nigeria Delayed Election Compounds Misery for Stocks, Naira
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It looks like it’s going to get worse for investors in Nigeria before it gets any better.
The country’s stock index is the worst performer in the world this year, while its currency has declined 17 percent in the past six months to an all-time low. Both, along with government bonds, are set to weaken more after Nigeria delayed elections, according to banks and brokers including Renaissance Capital and Standard Chartered Plc.