Market Updates

Veritas Kapital Assurance Plc reported a profit after tax of N3.046 billion for 2025, up from N1.634 billion in 2024, and a pre-tax profit of N3.156 billion against a loss of N1.485 billion a year earlier. The Chairman of the Board, Mr. Babatunde Irukera, disclosed this at the company’s 49th... Read More →

Aradel Holdings has more than doubled investors’ money this year, but anyone who bought at its April peak has experienced a different story. The stock closed October 16 at N1,499.90, up 123.87% from N670 at the end of 2025. An investment of N100,000 at that starting price would now be... Read More →

Berger Paints Nigeria Plc has rewarded investors with a 207.5% share-price gain in 2026, turning a N100,000 investment at the beginning of the year into approximately N307,500, excluding dividends and trading costs. The stock closed at N147.60 on October 16, up from N48 at the beginning of the year. Its... Read More →

Nigeria’s foreign exchange utilisation surged to $18.34bn in the second quarter of 2026, its highest level in nearly 15 years, as financial services transactions accounted for more than half of total demand, according to the Financial Markets Dealers Association. The sector absorbed $9.64bn during the quarter, representing 52.58 per cent... Read More →

The International Monetary Fund has endorsed the Central Bank of Nigeria’s decision to cut its benchmark interest rate to 23 per cent, saying the move is justified by progress in taming inflation, although monetary policy remains tight. Director of the IMF’s African Department, Zeine Ould Zeidane, said Nigeria had made... Read More →

Nigeria’s foreign exchange reserves have climbed to $55.1bn, their highest level in 18 years, strengthening the country’s capacity to withstand global economic disruptions, Central Bank of Nigeria Governor, Olayemi Cardoso, has said. Cardoso said the growing reserves buffer, alongside relative stability in the naira and easing inflation, would help limit... Read More →