Nigeria’s withdrawal from US Stock Market is false!

Claim: Machie Johnbosce on Facebook asserts that President Tinubu has pulled Nigeria from United States stocks and blocked the sale of oil to the United States. 

Verdict: False! No credible media organisation reported the issue. Moreover, Nigeria is not listed on the US stock market. 

Full Text 

Following his inauguration as the 47th president of the United States (US), Donald Trump has embarked on a series of economic and political policies to redefine America’s economy.

Amidst these policies, Machie Johnbosce, a moderator on the All Nigeria Political Parties, a public group on Facebook, claimed that the President of Nigeria, Bola Tinubu, has pulled Nigeria out from the US stock market.

In the post, Machie noted that Tinubu also blocked the sale of oil to the US and closed the Abuja State House in Washington in response to Trump’s travel ban on Nigerians. 

“Every action has a reaction, and two can play this game. Nigeria is not a small or insignificant country to be underestimated. If you impose sanctions on us, we will retaliate accordingly,” the post concluded. 

A review of the post’s comment section shows that many X users were interested in its veracity. 

One user, Fedelis Okoli, believed the claim and wrote, “Good step.”

Another user, Chikira Jahari, who disagreed with the post, wrote, “ Really, this can not happen.”

The post was shared on Facebook here, here, here, here, and here. 

Seeing the issues raised about this claim, DUBWA decided to verify it.

 Verification 

DUBAWA conducted a Google search to determine whether reputable media outlets had published articles on the assertion. We could not find any news report on it or any report on blocking the sale of oil to the US.

Can Nigeria be listed on the US stock market?

The New York Stock Exchange listing does not include Nigeria. Hence, Nigeria cannot be “removed” from the US stock market in a formal sense, as it does not have a direct listing on any US exchange. 

In the same way, Nigeria is not on the National Association of Securities Dealers Automated Quotation System (NASDAQ) list. 

However, Nigerian companies can be listed on these exchanges, and various factors can influence the level of participation by Nigerian investors in US markets.

DUBAWA contacted the presidential spokesperson, Bayo Onanuga, about the claim’s authenticity but did not get a response as of this report. 

Conclusion 

The claim that Tinubu has removed Nigeria from the US stock market and blocked the sale of oil to the country is not true because Nigeria is not listed on the US stock market.