LAGOS — The Nigerian Exchange lost N2.5 trillion in August, with market capitalisation falling 1.6 per cent to N155.83 trillion. Analysts linked part of the decline to the Central Bank's decision on 12 August to open open market operations to individuals, companies and non-bank institutions, which drew money towards high-yielding OMO bills. An OMO auction on 13 August attracted N4.9 trillion in bids, with rates up to 20.39 per cent. The market recovered N1.67 trillion on 27 and 28 August after FTSE Russell confirmed Nigeria's upgrade to frontier status.