Investors King
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Dollar to Naira Black Market Exchange Rate Today, Monday, November 2, 2026
The Dollar to Naira exchange rate in Nigeria’s black market stood at approximately N1,375 for buying and N1,390 for selling on Monday, November 2, 2026, as the naira opened the new month amid renewed demand for foreign exchange. The latest quotations indicate that the United…
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BUA Foods Profit Rises 11% to N450.47 Billion Despite 19% Revenue Decline
BUA Foods Plc reported an 11.2% increase in profit after tax to N450.47 billion in the nine months ended September 30, 2026, despite a 19.3% decline in revenue. This was higher than the N405.27 billion recorded in the corresponding period of 2025 when revenue stood at N1.42…
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Jaiz Bank Profit Rises Just 1.8% to N23.28 Billion Despite 16% Revenue Growth
Jaiz Bank Plc reported a 1.8% increase in profit after tax to N23.28 billion in the nine months ended September 30, 2026, compared with N22.88 billion in the corresponding period of 2025 despite a 16.2% increase in gross earnings. The modest N405.56 million increase in net…
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Access Holdings Parent Company Profit Crashes 93% to N9.19 Billion
Access Holdings Plc reported a 93.4% decline in its parent company profit after tax to N9.19 billion in the nine months ended September 30, 2026, down from N140.06 billion in the corresponding period of 2025. The sharp decline followed a 96.4% drop in dividend income from…
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Access Holdings Reports N474.17 Billion Profit as Earnings Growth Slows to 6%
Access Holdings Plc reported a 5.9% increase in profit after tax to N474.17 billion in the nine months ended September 30, 2026, up from N447.55 billion in the corresponding period of 2025. The modest N26.62 billion increase came despite a N257.08 billion reduction in credit…
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MTN Nigeria Saves N44.6 Billion in Finance Costs as Profit Rises to N1.17 Trillion
MTN Nigeria Communications Plc recorded an 11% decline in finance costs to N359.58 billion in the nine months ended September 30, 2026, down from N404.18 billion in the corresponding period of 2025. The N44.6 billion reduction, alongside stronger operating earnings and higher…
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MTN Nigeria’s Share-Based Compensation Surges 272% to N65.18 Billion as Share Price Rallies
MTN Nigeria Communications Plc recorded a 272.2% increase in share-based compensation expenses to N65.18 billion for the nine months ended September 30, 2026, compared with N17.51 billion in the corresponding period of 2025. The sharp increase was linked to the appreciation of…
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Access Bank Appoints Kumapayi Deputy Managing Director, Bamisebi Executive Director
Access Holdings Plc has announced the appointment of Oluseyi Kumapayi as Deputy Managing Director, African Subsidiaries, and Olanrewaju Bamisebi as Executive Director, Information Technology and Digitalisation, at its banking subsidiary, Access Bank Plc. The appointments, which…
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Ellah Lakes Revenue Surges 882% to N636.77 Million in Nine Months, Loss Narrows
Ellah Lakes Plc recorded an 881.8% increase in revenue to N636.77 million for the nine months ended September 30, 2026, compared with N64.86 million reported in the corresponding period of 2025. According to the company’s unaudited financial statements, the agribusiness company…
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BYD Overseas Vehicle Shipments Jump 103% as Chinese Automaker Expands Global Reach
Chinese electric vehicle manufacturer BYD recorded a 102.8% increase in overseas vehicle shipments to 170,194 units in October 2026 as the company accelerated its international expansion to offset slowing demand and intense competition in China. The automaker sold 490,168…
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Nigerian Manufacturers Spend N1.35 Trillion on Alternative Power as Electricity Crisis Deepens
Nigerian manufacturers spent approximately N1.35 trillion on alternative electricity generation in 2025, up from N1.11 trillion in 2024 as unreliable power supply continued to increase production costs and weaken industrial competitiveness. The figures, disclosed by the…
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NGX Gains 2.86% as Dangote Cement Rally Drives Industrial Stocks 14.6% Higher
The Nigerian Exchange (NGX) gained 2.86% last week as a sharp rally in Dangote Cement Plc lifted industrial stocks and helped push the broader equities market higher. The NGX All-Share Index rose by 7,077.22 points from 247,222.27 points to 254,299.49 points during the week…
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Dangote Cement Extends Rally, Jumps 27.8% in One Week to N1,420
Dangote Cement Plc extended its rally last week after gaining 27.8% to N1,420 per share as investors sustained demand for the cement company’s shares on the Nigerian Exchange (NGX). The stock opened the week at N1,111 and gained N309 per share to close at N1,420, representing an…
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NGX Trading Value Surges 476% to N637.83 Billion Amid Heavy First HoldCo, GTCO, UBA Turnover
Trading value on the Nigerian Exchange (NGX) surged by approximately 476% last week to N637.83 billion following the unusually heavy turnover in First HoldCo, Guaranty Trust Holding Company (GTCO) and United Bank for Africa (UBA). Investors traded 7.619 billion shares worth…
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OPay Withdraws $304 Million US IPO Following Foreign Regulatory Inquiry
OPay has withdrawn its planned $304 million initial public offering (IPO) on the New York Stock Exchange following a regulatory inquiry in an undisclosed foreign jurisdiction. The SoftBank-backed payments company had priced 16 million American depositary shares at $19 each,…
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Zenith Bank Assets Rise to N34.39 Trillion as Customer Deposits Hit N27.11 Trillion
Zenith Bank Plc strengthened its balance sheet in the nine months ended September 30, 2026 with total assets rising to N34.39 trillion and customer deposits reaching N27.11 trillion. According to the bank’s unaudited financial statements, total assets increased by 9.3% from…
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First HoldCo Extends Selloff, Sheds 23% in Three Days as Turnover Hits N49.58 Billion
First HoldCo Plc extended its decline for a third consecutive trading session on Friday to bring its cumulative loss to 23.1% as investors traded 414.35 million shares worth N49.58 billion. The financial services group closed at N119.15 or 5.1% below N125.55 it closed on…
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Oil Prices Rise Above $116 as Strait of Hormuz Attack Raises Supply Concerns
Global crude oil prices climbed above $116 per barrel on Friday as another attack on a tanker in the Strait of Hormuz heightened concerns over petroleum supply disruptions in the Middle East. Brent crude oil, the international benchmark Nigerian crude oil, rose 1.98% to $117.15…
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Binance Reports $6.3 Billion Security Breach, Freezes $3 Billion in Crypto Assets
Binance, the world’s largest cryptocurrency exchange, has reported a security breach affecting approximately $6.3 billion in digital assets with about $3 billion already frozen as investigations continue into the incident. The company disclosed on Friday, October 30, 2026, that…
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CBN Dollar Sales Drop 69% to $1.67 Billion as Private FX Inflows Increase
The Central Bank of Nigeria (CBN) sold $1.67 billion in foreign exchange during the first six months of 2026, representing a 69% decline from the $5.41 billion recorded in the corresponding period of 2025. The reduction of approximately $3.74 billion brought the apex bank’s…