Nigerian billionaires lost N3.83 trillion in paper wealth during June, according to data from Nairametrics, as the country's equities market endured a severe sell-off.
The erosion of high-net-worth portfolios underscores the breadth of the downturn, which has extended beyond retail investors to impact the nation's wealthiest stakeholders.
802 trillion loss recorded over five trading days in the prior week, marking the third consecutive week of declines.
The monthly loss coincides with a broader market decline that has persisted into July.
Nigerian equities opened the new month with a sharp drop, shedding N2.39 trillion in value as selling pressure weighed heavily on investor sentiment.
The All-Share Index fell 3.7 points in the session, marking a continuation of the downward trend that characterized the previous month.
This latest decline follows a N1.802 trillion loss recorded over five trading days in the prior week, marking the third consecutive week of declines.