FBN Holdings Approach One Year Low; Now Trading Below N15

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FBN Holdings continued its slide at the end of closing today loosing a further 2.12% and closing at a near one year low of N14.79. This has been the lowest this year as investors continue to dump its shares in response to the recently announced CRR increase on public sector funds to 75%. It is widely believe that FBN Holdings has a large pool of Public sector funds and by tightening this further, the company’s profitability is suddenly threatened.

Volume of transactions was about 49million worth a total of about N735billion.