Nigerian markets are buzzing as Guinness Plc posts a dramatic turnaround, Africa Capital Alliance (ACA) exits Aradel Holdings, and pension funds win approval to invest in gold-backed assets.

Guinness Plc has rallied over 160% this year, reversing a ₦73 billion loss into a ₦27.9 billion profit. The brewer’s resurgence under new owner Tolaram is lifting investor confidence and making it one of the Exchange’s top performers.

ACA has sold its entire 15.9% stake in Aradel Holdings for ₦387.2 billion, booking a 3.4x dollar return. Petrolin Ocean emerged as the largest shareholder, while analysts hailed the transaction as a landmark private equity exit.

Meanwhile, PenCom has approved gold receipts as a new asset class for Pension Fund Administrators (PFAs), allowing exposure to gold without physical storage. The reform is seen as a hedge against inflation and a boost to returns, with all 18 PFAs already recording positive gains this year.