First City Monument Bank (FCMB) recorded losses in early hours of trading on Monday, the first trading day of 2021 as it shares dropped by six percent.
According to data on the Nigerian Stock Exchange website, the bank’s shares lost 0.20k from the N3.33k it closed at on Thursday, December 31.
This represents a loss of 6.01 percent.
Ekohotblog gathered that the tier-2 bank, which has a market capitalisation of N65.94 billion, has 19.8 billion shares listed on the Nigerian Stock Exchange.
The bank was ranked top loser on the market as at 1:00pm on Monday.
The last time the bank’s share price plunged at such rate was on November 13 when it suffered a 10 percent decline from N3.80 per share on November 12 to N3.42 per share on November 13.
Adam Nuru, FCMB managing director, has been the subject of hotly discussed matter of paternity fraud since last week after a campaign calling for his dismissal on ethical grounds was began.
The campaign called on the Central Bank of Nigeria (CBN) to sack Nuru over an alleged paternity scandal.
READ AlSO: FCMB Breaks Silence Over Tunde Thomas’ Death
Nuru finds himself in the eye of the storm after friends of Tunde Thomas, who died on December 16, alleged that his demise was caused by the FCMB’s managing director in a petition.
The petition had claimed that Thomas died of depression after discovering that his two children with Moyo, his ex-wife and former employee of the bank, belong to Nuru.
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