Jaiz Bank Plc saw a sharp decline in its market value, shedding approximately 10% as investors exited positions ahead of a scheduled board meeting on Friday. Data from the Nigerian Exchange (NGX) revealed that the bank’s share price dropped by 9.72% to N3.25, with about 16 million shares worth N56.495 million traded.
The sell-off pushed Jaiz Bank’s market capitalization below N145 billion following the board meeting, which was held earlier in the day. The non-interest lender had previously announced that its board of directors would convene on March 14 to review its audited financial statements for 2024.
As the market anticipates the outcome of the board meeting and the release of the audited report, Jaiz Bank’s stock continues to trade at a significant discount to its 52-week high on the NGX.
