Naira eases as Nigerian stocks fall after suprise delay in general polls

The naira eased on the forward market on Monday and Nigerian stocks fell in early trades after the country's surprise decision to delay national elections over the weekend, just hours before polls had been due to open. The electoral commission said the postponement, which is due to last a week, was due solely to logistical factors and denied political pressure had played any part in the decision.

President Muhammadu Buhari and his rival, former vice president Atiku Abubakar, both urged voters to stay calm. The one-year non-deliverable naira forward opened at a quote of 401 per dollar from 397 previous session. Nigeria's most liquid banking stocks eased 1.07 per cent while oil stocks fell 1.44 per cent.