As stated by dealers in the stock exchange market, bond yields rose more than 100 basis points across maturities today while stocks sank, after Nigeria delayed its presidential election, increasing uncertainty in Nigeria's economy.
The postponement of the election to March 28 added to political uncertainty which, along with a slump in oil prices, spooked bond and equity investors, who sold off their holdings.
The naira was not spared as it also put intense pressure on the naira, which hit a record low on today.