Every morning, alongside my coffee, I read a leading Nigerian newspaper. It is a habit I am proud of, the kind that signals, at least to oneself, that one is a serious, informed person. A man with his finger on the pulse. A man who knows things.
It was in this spirit of informed seriousness that I noticed, over the course of several weeks, something extraordinary happening in the Nigerian stock markets. Two companies, Unilever PLC and UACN Plc, appeared to be the undisputed champions of the Nigerian stock market, sitting atop the “top gainers” ticker day after day, each registering a 10% gain daily. These companies were not just doing well. They were, apparently, doing the absolute maximum amount of good that is legally permitted.
NGX Top Gainers — as seen by me, every single day
Unilever PLC +10.00%
UACN Plc +10.00%
I was, naturally, surprised that the financial
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