Economy
Profit-Taking Drains Nigerian Equity Market by 0.07%
By Dipo Olowookere
For the second straight session, the Nigerian Exchange (NGX) Limited ended in the negative territory after it depreciated by 0.07 per cent on Wednesday.
Sustained profit-taking in industrial goods stocks like Lafarge Africa and Berger Paints and a few financial equities like Access Holdings and FBN Holdings contributed to the decline.
This weakened the All-Share Index (ASI) by 35.28 points to 52,721.34 points from 52,756.62 points and dragged the market capitalisation downward by N19 billion to N28.423 trillion from N28.442 trillion.
A look at the sectorial performance showed that the industrial goods sector depreciated yesterday by 0.19 per cent, while the insurance, consumer goods, energy and banking sectors appreciated by 0.81 per cent, 0.29 per cent, 0.19 per cent and 0.10 per cent respectively.
Business Post reports that investor sentiment remained weak at the midweek session as there were 23 depreciating stocks and 21 appreciating stocks, indicating a negative market breadth.
Academy Press was the worst-performing stock as its value went down by 9.93 per cent to N1.36, Berger Paints dropped 8.86 per cent to N7.20, Neimeth fell by 8.57 per cent to N1.60, May and Baker declined by 8.51 per cent to N4.30, while Wema Bank contracted by 7.61 per cent to N3.28.
On the flip side, McNichols maintained its upward trajectory and further gained 9.94 per cent to trade at N1.77, Transcorp Hotels appreciated by 9.84 per cent to N5.36, Champion Breweries improved by 7.03 per cent to N3.96, Consolidated Hallmark Insurance rose by 6.56 per cent to 65 kobo, while Multiverse gained 4.76 per cent to finish at 22 kobo.
FBN Holdings ended the trading day as the most active equity, exchanging 153.3 million units valued at N1.9 billion and was trailed by Jaiz Bank, which traded 116.6 million units worth N104.5 million.
GTCO traded 65.9 million equities valued at N1.6 billion, FCMB exchanged 43.5 million shares worth N152.2 million, while Transcorp sold 40.7 million stocks for N57.9 million.
When compared with the preceding session, the level of activity was lower across all the three parameters as the trading volume dropped 53.77 per cent to 612.0 million units from 1.3 billion units, the trading value went down by 3.86 per cent to N7.4 billion from N7.7 billion, while the number of trades decreased by 7.77 per cent to 5,948 deals from 6,449 deals.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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