{
  "id": 12511706,
  "title": "CMFC, UPDC REIT lead market’s N5tn September gain",
  "url": "https://urgent.news/2026/10/07/cmfc-updc-reit-lead-markets-n5tn-september-gain",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-07T01:24:18.000Z",
  "source": {
    "name": "Punch Nigeria",
    "slug": "punch-nigeria",
    "url": "https://punchng.com/cmfc-updc-reit-lead-markets-n5tn-september-gain/"
  },
  "original_language": "en",
  "account": "CMFC, a critical minerals-focused investment banking institution, led the Nigerian market's significant 5 trillion naira (N5tn) gain in September, with investor demand surging for its shares. According to trading data from the Nigerian Exchange Group (NGX), CMFC achieved an impressive average capital gain of 55.96 percent during the month, surpassing the market's average gain of 2.87 percent. Dr. Israel Ovirih, CMFC's President and Co-CEO, was honored as one of Nigeria's top 25 CEOs at the BusinessDay Top 25 CEOs Awards, organized in collaboration with the NGX. The recognition came after Banklink Africa Private Equity acquired a majority stake in Deap Capital Management & Trust Plc and its subsequent corporate restructuring. UPDC Real Estate Investment Trust (UPDC) followed closely with a 45.42 percent gain, while Zichis Agro Allied Industry and Nigerian Exchange Group recorded 36.77 percent and 35.68 percent gains, respectively. The broader equities market experienced portfolio rebalancing, profit-taking, and primary market activity throughout September, with the All-Share Index rising from 244,199.39 points to 251,211.67 points and regaining the 250,000-point threshold. Market capitalization expanded by 3.40 percent, increasing from N157.739 trillion to N163.105 trillion.",
  "summary": "Critical Minerals Financing Corporation Plc emerged as the best-performing stock in September, leading the Nigerian market to a N5.366tn gain. Read More: https://punchng.com/cmfc-updc-reit-lead-markets-n5tn-september-gain/",
  "key_points": [
    "CMFC led Nigerian market's N5tn gain in September with 55.96% average capital gain",
    "All-Share Index rose to 251,211.67 points, market capitalization increased by 3.40%"
  ],
  "editors_take": "CMFC's and UPDC REIT's significant gains reflect growing investor confidence, reshaping market dynamics and elevating their standing in the Nigerian equities market, as evidenced by September's trading data.",
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Punch",
        "title": "CMFC, UPDC REIT lead market’s N5tn September gain",
        "url": "https://urgent.news/2026/10/07/cmfc-updc-reit-lead-markets-n5tn-september-gain-12515111",
        "published": "2026-10-07T01:44:18.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}