Economy
Local Stocks Recover 0.23% as Geregu Enjoy Investors’ Patronage
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited rebounded by 0.23 per cent on Wednesday following renewed buying interests in some stocks, especially Geregu Power Plc, which completed a deal with a new investor.
The stock enjoyed investors’ patronage at the bourse during the midweek session as a result of the fresh equity investment, giving retail investors the confidence that something big may happen in the nearest future.
At the close of transactions, its share price rose by 10.00 per cent to N246.40, finishing as the best-performing stock. John Holt rose by 9.59 per cent to N1.60, Living Trust Mortgage Bank appreciated by 7.55 per cent to N2.85, University Press grew by 5.26 per cent to N2.00, and Veritas Kapital expanded by 5.00 per cent to 21 Kobo.
Unlike the preceding session, investor sentiment was strong as the market breadth was positive because the exchange finished with 18 price gainers and 11 price losers led by McNichols, which fell by 9.84 per cent to 55 Kobo.
Coronation Insurance slipped by 6.82 per cent to 41 Kobo, Royal Exchange went down by 6.67 per cent to 70 Kobo, Mutual Benefits declined by 5.88 per cent to 32 Kobo, and Chams lost 3.70 per cent to 26 Kobo.
Business Post reports that the banking and the consumer goods counters appreciated by 0.25 per cent and 0.01 per cent, respectively, yesterday, while the insurance space tripped by 0.79 per cent, with the energy and industrial goods sectors closing flat.
When the market wrapped up for the session, the All-Share Index (ASI) was up by 126.22 points to settle at 54,315.53 points compared with the previous day’s 54,189.31 points, and the market capitalisation was up by N69 billion to close at N29.589 trillion versus Tuesday’s N29.520 trillion.
A total of 129.9 million shares worth N3.9 billion exchanged hands in 2,678 deals on Wednesday, in contrast to the 254.2 million shares worth N15.6 billion traded in 2,950 deals on Tuesday, indicating a decline in the trading volume, value and the number of deals by 48.90 per cent, 75.00 per cent, and 9.22 per cent, respectively.
AIICO Insurance was the busiest stock as it sold 16.2 million units, Zenith Bank traded 13.0 million units, GTCO exchanged 12.4 million units, Transcorp transacted 12.1 million units, and Courteville traded 10.7 million units.
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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