Nigerian equities extended their recent downturn on Friday, with investors wiping out N877.91 billion in market value as selling pressure broadened across key sectors.
The decline was led by heavyweights First HoldCo, Zenith Bank, and WAPCO, which dragged the broader index lower amid persistent risk aversion.
The session marked a continuation of the capital flight that has plagued the Nigerian market in recent weeks.
Investors have accelerated outflows ahead of the country's upcoming general election, creating a volatile environment for equity holders.
The broad-based nature of the sell-off suggests that political uncertainty is outweighing fundamental valuations for many large-cap names.
This latest drop adds to a significant erosion of wealth for Nigerian investors.