European Journal of Accounting, Finance and Investment

Assessing Financial Market Performance During Covid-19 In Nigeria: Experience From Pre And Post Era

Ifeoma Nwakoby

Department of Banking & Finance, University of Nigeria, Enugu Campus

Charles Manasseh

Department of Banking & Finance, University of Nigeria, Enugu Campus

Kenechukwu Ede

Department of Economics, University of Nigeria, Nsukka

Keywords: FINANCIAL MARKET PERFORMANCE, COVID-19 IN NIGERIA, EXPERIENCE FROM PRE AND POST ERA, Financial Market Performances in Nigeria during the Pre and Post Covid-19 Era, Government Efforts in Curtailing the Effect of Covid-19 on Financial Performance in Nigeria

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Abstract

This study assesses the influence of covid-19 on financial performance in Nigeria with a particular interest on the behaviour of financial performance indicators during covid-19 outbreak in Nigeria. Evidence from the outcome of the review shows that financial performance is strongly affected during covid-19 era considering indicators such as market capitalization, foreign direct investment, foreign portfolio participation in equity trading, AFEX composite commodities index which measures the country’s commodities market with emphasizes on commodities exchange index and commodities index. The evidence revealed that the Nigeria financial market was negatively affected by the outbreak of covid-19 pandemic. In addition, from the review, during covid-19 era particularly in 2020, there were a few private equities (PEs) play, but the year saw a general downturn in Private Equity Issues compared to 2019. The presence of the Covid-19 pandemic caused significant disruption in the mobilization of capital for future investment in Nigeria. Though, we also observed that at some point, the performance indicators as used in this study relatively performed especially after the ease of the imposed lockdown on economic activities and people movement