The market had opened at N12.655 trillion, but dropped 1.5 per cent to close at N12.468 trillion. This was the first fall by the market this week.
An economist and financial analyst, Aruna Kebira, said Sanusi's suspension sent a negative signal to the capital market.
"For the capital market, definitely there will be a negative reaction from foreign investors. They will sell and watch which direction our economy will toe after the exit of Sanusi," he said.
"The cost of sacking the governor will be too much for the nation's economy to bear than leaving him to complete his term which ends in three months' time," he said.
"I'm not impressed with the sack and the market will definitely react to this in a very strong and negative way. The timing is not right."
"It is difficult to ignore the consequences of non-remittance of revenue of kerosene saga. Sanusi had made a profound statement of non-remittance of the revenue to government's purse which is yet to be cleared. So the consequence is very great because we are dealing with issue of probity and it has a way of sending wrong signals to investors."
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